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🪙 Coin Name: #SOL/USDT 4h
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On the 4-hour time frame, Solana (SOL) has been forming a descending channel chart pattern, characterized by parallel downward-sloping trend lines, indicating a bearish trend. Additionally, a closer examination of the Relative Strength Index (RSI), a momentum oscillator, reveals bearish signals. The RSI shows decreasing momentum, suggesting that the bearish trend is intensifying.
Furthermore, SOL has recently hit the resistance line of this descending channel. When an asset encounters the resistance line in a descending channel while the RSI is bearish, it typically signals a continuation of the bearish trend. Given these factors—the bearish signals from the RSI and the interaction with the resistance line—it appears that SOL is set for further downward movement. This suggests that the price may continue to decline, and traders should be prepared for potential losses.
Entry: 162.882 Market Price
Signal Type: SHORT
Take Profit Targets:
🎯 $156.000
🎯 $152.000
🎯 $148.000
🔒 Leverage: 20x
⛔ Stop Loss at: $172.00
Don't miss out on this opportunity! 💸
