๐ Clear Trading Signal for Solana (SOL) ๐
Current Price: 190.76
Signal Type: Bearish
Reasoning:
The M pattern has completed, indicating potential bearish momentum.
SOL has fallen below key support levels, and thereโs a higher likelihood of further decline in the short term.
Action:
Sell/Short: Enter a short position at the current price level (190.76).
Stop Loss: Set a stop loss around 192.50 to limit risk if the price reverses upwards.
Targets:
1. ๐ฏ Target 1: 185.00 (Immediate support level, possible bounce point)
2. ๐ฏ Target 2: 180.00 (Next significant support)
3. ๐ฏ Target 3: 177.50 (Further decline zone, long-term support)
Note:
Monitor the price action closely for any signs of reversal or bullish divergence that could invalidate the bearish trend.
Adjust your stop loss and targets as needed based on market movement.
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