$SOL USDT is showing strong bearish signals right now! đ
Price hovering around 118.36 after a sharp drop from recent highs near 148-150. We've broken key supports, with the chart printing lower lows and a clear downtrend on the daily timeframe.
Key indicators screaming caution:
MACD deeply negative (DIF -3.727, DEA -2.021, MACD -1.706) with bearish crossover and histogram expanding south.
RSI(14) at ~37, dipping toward oversold but momentum still weak; RSI(6) even lower at ~31.
Bollinger Bands squeezing then expanding downward, price hugging the lower band after rejection at middle band (~118-132 area).
Long/Short Ratio heavily skewed long (L/S Ratio 5.52, Longs dominating at 84-85% across ratios/positions/acc), meaning heavy liquidation risk if we push lower â classic contrarian setup for bears!
Recent performance brutal: -7.71% (7d), -36.77% (90d), -49.54% (1y) â momentum is clearly bearish.
TRADE IDEA: SHORT $SOL USDT NOW! đ Bearish continuation likely toward lower supports.
Entry: around current levels ~118.00â118.50
Take Profit: 110.00 (first target, near recent low zone) â extend to 105-108 if momentum holds
Stop Loss: 122.00 (above recent swing high / broken support reclaim)
High-conviction short setup with great R:R â don't fight the trend while longs get squeezed! Liquidation heat building on the long side.
Trade smart, manage risk â this is crypto, volatility is wild! đ„
What do you think â more downside coming or bounce incoming? Drop your thoughts below! đ
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