Trade signal
Pair: $SOL USDT
Timeframe: 1H (1-hour candles)
Range-bound/Sideways market:
SOL is trading within a clearly defined range:
Support: ~$124
Resistance: ~$135.50
Current price: ~$133 — near the upper boundary of the range.
Recent rejection at resistance:
Price touched the upper boundary (~135.50) and pulled back slightly.
Possible Trade Signals:
1️⃣ Short (Sell) Setup:
Entry: Around 133.5 - 135
Stop-loss: Above 136
Target: 128 (mid-range) / 124 (range support)
Reason: Price got rejected near resistance multiple times, unless it breaks out with volume, this is a high-probability mean reversion setup.
2️⃣ Long (Buy) Setup:
Entry: Around 124 - 125
Stop-loss: Below 123
Target: 130 (mid-range) / 135 (range resistance)
Reason: Strong support around 124 level — good risk/reward for a bounce trade.
Important to Watch:
Breakout Confirmation:
If price closes above 136 with strong volume, it can target 140+
If price closes below 124, next key level is around 118.37 and then 104