From a structural analysis of the price action, since SOL retreated from its recent high, it has formed a clear descending channel. The highs continue to move lower and the lows keep refreshing, indicating that the technical pattern has entered a bearish-dominated phase. Short-term rebounds are weak, and the risk of a pullback is intensifying.
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From a structural analysis of the price action, since SOL retreated from its recent high, it has formed a clear descending channel. The highs continue to move lower and the lows keep refreshing, indicating that the technical pattern has entered a bearish-dominated phase. Short-term rebounds are weak, and the risk of a pullback is intensifying.
Trading suggestion: Short around 136-140, target 126-122.
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