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#GateSquareAprilPostingChallenge SOL attempted to push higher, reaching $87.67 but faced sharp rejection, dropping to a low of $82.65. The current price is around $82.81, reflecting continued weakness and confirming sellers are in control.
Down 40% in 90 days, every bounce shows less strength—this fits the “dead cat bounce” or relief rally narrative, not a true reversal.
Short bias remains valid: Entry zone $85.85–$86.20, stop loss at $87.20. Targets: $84.00, $82.00, $79.50.
No breakout above $87 means the bearish trend persists. Momentum increases below $84, so watch for acceleration if that level breaks.
Rejections are sharper, lower highs are forming—trend is still bearish.
This isn’t a reversal, it’s distribution. Play it smart: short the weakness, not the bottom, and ride the downside.
$$SOL is showing classic signs of a relief rally, not a reversal. Sellers dominate, and the price action supports a short bias. Stay cautious and follow your game plan.