🚀 SOL/USDT - Testing Key Support Zones 🚀

SOL/USDT is currently facing a significant downturn, trading at $137.017, after failing to maintain higher levels. The price action has recently seen a drop from a high of $161.761, moving below several critical supports.

🔥 Key Observations:

Bearish OBs: Notable resistance levels at $152.500 and again near the recent highs suggest a strong selling presence at higher levels.

Current Trend: After a rapid descent, SOL is attempting to stabilize. It's trading around key support levels that may determine the next direction.

Support Levels: Immediate supports are at $140.844 and $137.017. A breach below could see SOL testing the lower support at $129.348.

🎯 Short Setup:

🚀 Entry for Short: If SOL rebounds to the $140.844 or $143.505 area and shows signs of weakness, it could be an opportunity to enter a short position.

🎯 Take Profit Targets for Short:

1. TP1: $137.017 — Immediate support which might be retested.

2. TP2: $133.000 — Additional lower target based on Fibonacci levels.

3. TP3: $129.348 — Key psychological and technical support level.

🛡️ Stop Loss for Short: Consider placing a stop loss around $145.000 to protect against an unexpected reversal back towards resistance levels.

📈 Long Setup (If Reversal Signs Emerge):

🚀 Entry for Long: Look for buying opportunities near $137.017 if SOL shows signs of strong buying pressure, potentially indicating a reversal.

🎯 Take Profit Targets for Long:

1. TP1: $140.844 — Minor resistance and a conservative target.

2. TP2: $143.505 — Next significant level before the high.

3. TP3: $150.610 — High resistance zone prior to the recent peak.

🛡️ Stop Loss for Long: Place a stop loss just below $135.000 to minimize potential downside risk.

📉 Market Sentiment: The sharp decline and subsequent test of lower support levels indicate a critical moment for SOL. Market sentiment appears cautious, and the next moves will be crucial in determining a more definitive trend direction.

$SOL