$SOL /USDT PRICE ACTION ANALYSIS: REVERSAL SIGNAL AT $202.81 HIGH! SHORT TRADE IN SIGHT
SHORT TRADE SIGNAL
Trade Setup:
• Short Entry: $200.65 - $201.00 (Near current price and recent resistance area)
• TP 1: $197.82 (Minor recent support)
• TP 2: $195.01 (Stronger recent support)
• SL: $203.45 (Above 24h High of $202.81 and previous local peak)
Short Outlook of Market:
The chart shows a strong upward move that has been met with resistance at the 24-hour high of $202.81. The latest candles show a rejection of this level, suggesting a potential short-term reversal and a pullback to the recent support zones. Technical indicators like RSI and MACD (not fully visible but implied by the strong candle run) may be entering overbought territory on this timeframe, reinforcing the short-term bearish outlook for a corrective move. A break above the $202.81 high would invalidate this short setup and signal a continuation of the rally.