7.14 Sora$SOL intraday trading idea

Entry: Short 75.40 - 75.80
Stop loss (defense): Above 76.20
First target: 74.80 - 74.50
Second target: 74.00 - 73.60

SOL surged in the morning to test 75.52 at the high, after which the long-side buy pressure began to weaken. It then went through a round of deep pullback, with the low touching around 74.5. Currently, it’s in a small consolidation rebound after the selloff. On the whole, in terms of the larger market structure, after the earlier wave of rally had run its course, the long momentum has already been exhausted. The medium- to long-term moving averages are gradually turning downward to form resistance. This rebound is only a technical repair after a sharp drop, not a reversal of the uptrend.
The price has repeatedly pushed up toward the prior high area around 75.5, but it has never managed to break through and hold with volume. The bullish strength on the K-line has been continuously weakening. At the highs, a lot of chase-long positions have been trapped. Combined with short-term dip-buyers taking profits and cashing out in a concentrated manner, the dual sell pressure continues to cap the upward space.
Judging by the overall charts for BTC and Ethereum as well as the broader market, major coins are all entering a pullback cycle after the morning highs. The market’s overall long sentiment is cooling off, and SOL is unlikely to break out into an independent bullish uptrend against the trend. If the rebound cannot effectively break through the overhead resistance area with sufficient volume, the price action will continue in the same falling rhythm as this pullback. In terms of strategy, wait for the price to rebound back into the resistance zone, then set up short positions in line with the trend. Below, focus on support around the 74.5 level; once this area breaks down effectively, the downside space for shorts will open further#特朗普呼吁尽快通过Clarity法案