7.27 Sora $SOL short analysis

Entry: 76.90 - 77.30 short
Stop loss: 77.55
First target: 76.30 - 76.60
Second target: 75.90 - 76.00
After Sora surged in the morning session and made a high of 77.08 within the day, subsequent rebounds multiple times failed to break through the previous high; overall, it formed a structure of surge-attempt under pressure, obstacle, sideways consolidation, and then a pullback. In the short term, this leg of rally is a passive follow-through rebound after a long period of consolidation at low levels. Trading volume was released all at once, and the bulls lack sustained incremental buy pressure, making it difficult to break the high and open up room for further upside. #夏日创作营
76.90~77.30 is the above-range key resistance zone. The intraday high has short-term trapped longs and profit-taking orders concentrated in this zone. When the price rebounds into the range, it is easy to trigger large-scale long liquidation and exits, with ample sell pressure. As long as the market cannot increase volume and hold above 77.55, the oscillation structure of the surge meeting resistance will not be broken. Place shorts in batches at the pressure zone during the rebound, and trade the pullback in line with the rhythm of the bulls’ inability to sustain their push higher.