weak buy
Solana Short Opportunity: Targeting $164.56
A short position is recommended on #SOLUSDT, entering at $176.5 with a stop loss at $180.03. On a 1-hour timeframe, the price reached a supply zone following a significant drop, signaling a potential reversal. The trade considers a breakout of a weak high and a subsequent return to the range, with a rejection from the FVG aligning with CHoCH levels and the local 1H order block. The $176–$178 zone previously acted as a strong selling area, evidenced by reaction from resistance, reduced volume, and initial CHoCH confirmation.
Profit targets are set as follows:
- TP1 at $173.50, where local imbalance and support are present.
- TP2 at $170.00, within the demand and liquidity zones.
- TP3 at $164.56, marking the final 1H order block and strong support.
Source available for registered users Sign Up Free
AI Analysis
Technical ContextThe recommendation to short SOLUSDT hinges on recent price movements within a defined 1-hour timeframe. The price recently hit a supply zone after a notable decline, implying sellers ...
AI Recommendation
Based on the technical analysis and the identified resistance zones, initiating a short position at $176.50 with a stop loss at $180.03 seems justified. Monitoring the price action as it approaches th...
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.