7.17 Sora $SOL short setup

Entry: short from 74.5 - 75.5
Stop-loss (defense): above 76.0
First target: 73.5 - 73.0
Second target: 72.5 - 72.0

Sora surged higher in the morning and tapped the 75.71 intraday high, after which buy-side momentum from long positions quickly dried up. The market then formed a step-like sideways-to-down trend: after each mild bounce, it failed to hold up and soon printed fresh lows. The low dipped to 74.24. Longs who chased during the morning up-move were stopped out and exited in sequence. The 75.5-75.7 prior high zone has accumulated a large amount of take-profit sell pressure and trapped positions.

On the daily level, the overall upward structure has not been fully reversed, but after a short-term push higher, RSI and KDJ indicators have clearly moved into an overbought-to-falling state. The bullish momentum that drove the short-term rally has already been realized. The short-term upside push energy from the bulls is severely overdrawn, and the chart has entered a pullback cycle dominated by profit-taking by main players. The overhead resistance zones are thick. Unless a huge amount of incremental capital comes in to absorb buy pressure, it will be difficult for price to reclaim the intraday high and restart the up-move. Therefore, broaden the allowances for staggered entries and tiered take-profit ranges. Today’s core idea remains primarily to short on rebound highs, following the trend. Rely on the overhead resistance region to place staggered orders for shorts, and play the game by following the longs’ exit rhythm to target this round of deep pullback. #USDT充值理财双重奏