strong buy
Bearish Short Proposal for SOLUSDT at $176 with Stop Loss at $179
The current bearish outlook for SOLUSDT is based on a 15-minute timeframe analysis, showing a formation after testing the supply zone between 177.5 and 179.0. The price has tested this resistance multiple times but failed to break through, with the last rise accompanied by weak buyer reactions and a sharp reversal on increased volume, indicating seller strength. Additionally, a structural break with decreasing lows is evident. A potential entry point is considered on a retest of 176.5 or during the current decline if buyer weakness is confirmed. The suggested take-profit target is between 171.5 and 172.3, with a stop-loss at 179, beyond the supply zone and recent high. Overall, the analysis advocates for short positions based on momentum and volume signals.
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AI Analysis
The analysis indicates that SOLUSDT is showing signs of weakness after testing the supply zone between 177.5 and 179.0 but failing to establish a bullish breakout. Multiple resistance tests weaken the...
AI Recommendation
Traders should consider initiating a short position on SOLUSDT around the 176.5 level, especially if the retest confirms ongoing seller dominance and diminished buying interest. It is crucial to monit...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.