๐ Market Overview
Solana ($SOL ) is showing clear signs of bearish momentum, currently trading at $148.53, down 1.94% on the day. After multiple failed attempts to push beyond the key resistance zone at $152, the price has turned lower, indicating growing selling pressure. The market is now eyeing the daily low of $141.53, which could soon come into play if the current downtrend continues.
This breakdown below $150 is a critical technical signal โ suggesting that the bears are regaining control and momentum is shifting decisively against the bulls.
๐ Key Technical Levels
๐ผ Resistance Zone: $150 โ $152
๐ก๏ธ Support Levels:
Minor: $146
Major: $142
๐ Spot Price: $148.53
๐ Bearish Trade Setup
Entry Zone: $148.50 โ $150.00
Take Profit 1 (TP1): $146.00
Take Profit 2 (TP2): $142.00
Stop Loss (SL): $153.00
This short setup aligns with the current bearish structure. Only consider entering if the price remains below $150 with weak bullish recovery.
โ ๏ธ Risk Management Strategy
๐ผ Risk Per Trade: Limit exposure to 1โ2% of total capital.
๐ Risk-Reward Ratio: Aim for a minimum 1:2 RR for optimal trade efficiency.
๐ง Discipline is Key: Donโt chase the market. Wait for clean confirmation. Protect your capital above all.
๐ญ Final Thoughts
The failure to reclaim $152 confirms a short-term bearish outlook. As long as Solana $SOL
trades under this level with weakening volume, further downside toward $146 and possibly $142 remains on the table.
๐ Let the market come to you. Donโt force trades. Stay tactical, stay patient.