SOL is currently exhibiting signs of bearish continuation after failing to break above key resistance. We see a possible double bottom forming around the current price level, indicating a potential test of support at $115.
Price action has been consolidating after a recent decline, potentially forming a double bottom pattern.
Fibonacci retracement levels (not shown, but recommended to add to your chart) suggest a measured downside target near $115.
The failure to break above resistance indicates continued weakness in the market.
Risk/Reward:
The potential reward-to-risk ratio favors a short position, with a target of $115 and a stop-loss placed slightly above the recent resistance level.
Then hey, if we're lucky, up to $340.
Price action has been consolidating after a recent decline, potentially forming a double bottom pattern.
Fibonacci retracement levels (not shown, but recommended to add to your chart) suggest a measured downside target near $115.
The failure to break above resistance indicates continued weakness in the market.
Risk/Reward:
The potential reward-to-risk ratio favors a short position, with a target of $115 and a stop-loss placed slightly above the recent resistance level.
Then hey, if we're lucky, up to $340.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.