โ๐ $SOL ๐๐ป๐ฎ๐น๐๐๐ถ๐; ๐ฃ๐ฎ๐๐ถ๐ฒ๐ป๐ฐ๐ฒ ๐ถ๐ ๐ธ๐ฒ๐ ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐๐๐ฆ๐ง ๐๐ก๐ง๐ฅ๐ฌโโ โ
๐ โSolana ($SOL ) is currently approaching a critical overhead resistance zone. Looking at the charts, we are seeing a potential rejection play near the long-term descending trendline. Here is the breakdown of the current setup:
โ๐ Technical Outlook:
โซ๏ธโResistance Zone: There is a heavy supply zone between $129.66 and $137.31. This is where sellers are likely to step in.
โซ๏ธโTrendline Setup: The price is testing a descending trendline. A failure to break above this with high volume could lead to a significant pullback.
โซ๏ธโPrice Action: Expecting a rejection within the highlighted red box before the next move down.
โ๐ก Trading Strategy:
โซ๏ธโWait for Confirmation: Don't rush. Wait for the price to hit the identified zone and show signs of reversal before entering.
โซ๏ธโThe Ladder Method: Instead of one big entry, use the Ladder Method to scale into your position between $129 and $137. This helps in averaging your entry price.
โซ๏ธโRisk Management: * Use Low Leverage.
โข โManage your Margin strictly.
โข โProtect your capital at all costs.
โ๐ Key Levels to Watch:
๐ฐ โEntry Range: $129.66 โ $137.31
โฆ๏ธ โStop Loss (Invalidation): Above $140.29
โ โTarget: Keep an eye on the previous lows for potential take-profit zones.
โญ ๐๐๐ฆ๐๐๐๐๐ ๐๐ฅโ: This is not financial advice. Crypto markets are volatile; always perform your own due diligence (DYOR) before trading.
โ#Solana #SOL #CryptoAnalysis #TradingStrategy #TechnicalAnalysis
