$SOXL USDT Perp | Market Structure Update
Semiconductor momentum is fading as sellers continue to defend higher levels. After facing strong rejection around $55.18,
$SOXL is now testing a critical support zone near $52.68. The next key level to watch is $51.47. A decisive breakdown below this support could trigger a move toward $50.13 and potentially $48.78 as bearish momentum builds.
On the upside, buyers need to reclaim and hold above $54.14 with convincing volume before a sustainable recovery can be considered. Until then, rallies may continue to face selling pressure.
Trade Plan:
• Short below $51.47
Targets: $50.13 → $48.78
Stop Loss: Above $54.14
• Long only after a confirmed breakout and hold above $54.14 with strong volume.
The semiconductor sector remains under pressure, making price action around these key levels especially important for the next directional move.
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