Pair: $SOL /USDT (Perpetual)
Current Price: 203.58 (-1.08%)
Solana ($SOL) is exhibiting bearish momentum after failing to maintain support above the 206.66 level. The price has now slipped to the 203.69 zone, reflecting increased selling pressure. A series of bearish candlesticks further confirms a shift in momentum, with sellers regaining control.
Unless bulls can reclaim the 205.50 resistance zone, $SOL remains vulnerable to deeper downside, especially if the 202.00 support fails to hold.
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🔻 Short Trade Setup:
Entry Zone: 203.50 – 204.00
Take-Profit Targets (TP):
TP1: 201.50
TP2: 199.80
Stop Loss (SL): 206.20
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🔍 Technical View:
Momentum is tilting bearish.
Failure to hold above 202.00 could accelerate the decline.
Volume profile suggests limited demand below the 200.00 level, increasing downside risk.
This setup favors short positions with tight risk management, especially if price action remains below 205.50. Traders should monitor volatility and key support zones for potential reactions.
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