Technical analysis by MangoMan4 about Symbol SOL: Sell recommendation (3/12/2025)

🛠 Technical Overview🔸 Asset: Solana (SOL) / USDT Perpetual Futures🔸 Exchange: MEXC🔸 Timeframe: 4-Hour Chart🔸 Pattern: Descending Channel📊 Analysis & Market ObservationsSolana (SOL) is currently trading within a clear descending channel, facing strong resistance near $135 - $140 (Mini ChoCH) and $150 - $160 (Major ChoCH).🚀 Bullish OutlookIf SOL breaks above $135 (Mini ChoCH), we might see a short-term reversal.A breakout above the $150 - $160 Major ChoCH level would indicate a confirmed trend shift.Potential bullish targets: $180 - $200 after breakout confirmation.📉 Bearish OutlookSOL remains in a downtrend as long as it stays within the channel.If price fails to hold the $125 - $130 support zone, it could test $100 - $110 (lower channel support).A breakdown from the channel could push SOL into a deeper retracement toward $80 - $90.🎯 Trading Strategy📌 Breakout Confirmation: Look for 4H candle close above $140 - $150 for a trend reversal.📌 Retest Entry: If price breaks and retests key levels, it could present a strong long opportunity.📌 Channel Support Longs: If SOL drops to $100 - $110, watch for bullish signals to enter long positions.📊 Key Levels to Watch🔹 Resistance: $135 (Mini ChoCH), $150 - $160 (Major ChoCH)🔹 Support: $125 - $130 (demand zone), $100 - $110 (lower channel)🚀 Potential Breakout Incoming! Stay prepared for the next move. 🚀