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SOL's recent movement has provided several trading signals. Around $145, the price shows a clear bearish pattern, with selling pressure remaining strong, and the market fully recognizes the support level at $137.50. From the overall downward trend, it is developing as expected, with lower lows continuously forming, and the bears maintaining control throughout the process.
From a technical perspective, repeated strong rebounds near the resistance level of $145 further confirm the bearish structure. For traders looking to short, there are several key points to watch:
Entry opportunities are in the range of $143.50 to $145.00. Setting stop-loss above $148.80 would be safer. As for target levels, consider phased targets: the first at $141.00, then $139.50, and the final target at $137.50.
Overall, the trend clearly favors the bears, with a well-defined structure. Managing risk and stop-loss placement will be crucial in this market movement.