$SOL This decline could be a buying opportunity, but you should pay attention to the support level of 163.17 USDT, if it is broken we may see further decline.
It is better to wait for confirmation of the rebound before entering a buy deal.
2. If you are a short-term trader (Scalping or Swing Trading):
The general trend is down, so it is better to wait for reversal signals such as reversal candles or a bullish crossover of indicators such as RSI and MACD.
If the price continues to decline, a selling opportunity can be sought at the break below 163.17 USDT, with a close stop loss to protect against sudden reversals.
3. Hedging strategy:
Stop loss orders can be used at 162-160 USDT to protect capital.
For those with open long positions, risks can be reduced by trading futures with a tight stop loss.
Conclusion:
Currently, the market is in a downtrend, and it is better to be cautious when buying until clear reversal signals appear. It is better to wait for technical confirmations before making a buy or sell decision. #MileiMemeCoinControversy #solana
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