July 24 early morning SOL brief analysis



On the 15-minute chart, a clear bearish pattern trend is showing. The price has been trading sideways and falling from the 78 high. After the recent sharp selloff, the rebound lacks strength. It is currently at 75, pressing against the day’s low of 75.

Net capital outflows are close to 70 million, and selling pressure is relatively heavy. Resistance overhead is strong around 76, while 75 is the key support. If that support breaks, the down move could accelerate.

At present, it is not advisable to blindly buy the dip. Aggressive traders can watch for the short setup when a rebound is rejected. Liquidity is thin late at night, so be alert to the risk of wick spikes (needle-like moves).
SOL-2.03%
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ShenYuning
· 4h ago
Good night
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