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$SOL Coin: Bearish Wedge Formation
The $SOL coin is currently exhibiting a rising wedge pattern, a technical formation often signaling a bearish reversal. The price has been trending upwards, yet it's confined within two converging trendlines, creating a wedge shape. This structure suggests a weakening of bullish momentum, as the price continues to make higher highs, but with diminished strength.
A decisive break and close below the lower trendline of this wedge would validate the pattern, potentially triggering a significant price decline. Traders typically consider entering short positions at this juncture, implementing a stop-loss order just above the wedge's trendline to mitigate risk. The projected price target for this potential move is often set at the starting point of the wedge's formation or a prior support level. This pattern serves as a warning, indicating that a substantial trend reversal could be on the horizon.

Total3: Bearish Reversal Pattern Analysis
The total3 chart currently displays a classic bearish reversal pattern, even though the price action shows higher highs and higher lows. The converging trendlines indicate that the buying momentum is diminishing with each successive high. This compression suggests an impending significant price movement.
Confirmation of the pattern arrives when the price decisively breaks below the lower trendline. This breakdown serves as the primary signal to consider a short trade. The price target is typically the bottom of the wedge formation, while a stop-loss order should be placed just above the upper trendline to manage your risk. This chart pattern suggests the current uptrend may be approaching its conclusion.
Here's the breakdown of your trading signal:
* Entry Price: 200.20
* Take Profit 1 (TP1): 197.42
* Take Profit 2 (TP2): 193.79
* Stop Loss (SL): 203.32
This signal is specifically for spot trading.