#RiskRewardRatio Analysis: $SOL
106.71
-2.03%
/USDT
Current Price: $104.21
Trend: Bearish (down by 1.49% in the last 24 hours)
Support Levels: $103.18 (24h Low), $104.71 (recent support zone)
Resistance Levels: $112.58 (24h High), $112.66 (recent resistance)
Trade Signal:
Signal: Bearish Momentum (short-term downtrend, look for potential break below support).
Entry: Enter short around $104.20 - $105.00 if the price continues to reject near resistance zones.
Stop Loss: $107.00 (above resistance level).
Take Profit Levels:
Target 1: $103.20 (near 24h Low).
Target 2: $102.00 (psychological support level).
Target 3: $100.00 (potential support zone).
Trade Momentum:
Short-term momentum: Bearish, as the price is trending lower with lower highs. Watch for a break below the $103.18 support to confirm the continuation of this downtrend.
RSI (Relative Strength Index): (If available) should ideally be below 50 for bearish confirmation.
MACD (Moving Average Convergence Divergence): If it shows a bearish crossover, it will support the short position.
This trade setup assumes the continuation of the bearish trend. Always manage risk and adjust stop-loss levels accordingly.
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