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$SOL USDT BEARISH MOMENTUM ON THE DECLINE, SHORT ENTRY OPPORTUNITY
Looking at the current market action for $SOL, the price has been in a downward motion after reaching a high of $85.85, currently sitting at $83.98.
LONG or SHORT: Short is the setup here due to the rejection from the $85.85 resistance and the current bearish momentum.
Trade Setup:
Entry Range: $83.90 - $84.10
Stop Loss: $85.20
TP1: $83.33
TP2: $83.00
TP3: $82.50
The chart shows a failed breakout attempt around $85.85, followed by a strong pullback. The MACD is still negative, indicating bearish momentum, while the price is below $85.21 resistance.
Why this move is likely: The market is showing clear rejection at the $85 level, and a drop towards $83.33 and lower seems probable. Watch for the $83.21 support to hold—if it breaks, the drop could extend.
Key Levels:
Support: $83.21 (Strong support zone)
Resistance: $85.21 (Rejection level)
Watch the momentum; it's likely to continue its downward trend unless a drastic reversal occurs.
#USSeeksStrategicBitcoinReserve