$SOL /USDT Trading Analysis - Downtrend with Critical Support Test

Key Levels

Current Price: $175.77

Support Level: $175.00

Resistance Levels: $180.00, $183.00

Trade Setup

Short Position Strategy:

Entry Range: $176.50 - $178.00

Targets:

Target 1: $172.00

Target 2: $170.00

Target 3: $165.00

Stop Loss: $182.00

Technical Overview

SOL/USDT has broken below critical levels, heading towards its immediate support at $175.00. The sharp sell-off indicates continued bearish momentum. A failure to hold $175.00 could lead to a deeper correction, while any upward retracement is likely to face resistance near $180.00. Traders should remain cautious and wait for a confirmed move before entering positions.

Action Plan

Enter short positions within the range of $176.50 to $178.00.

Secure profits at each target level.

Use a stop loss at $182.00 to manage risk and protect against sudden reversals.

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