Technical analysis by cyscalpingvip about Symbol SOL: Sell recommendation (3/15/2025)

📉 SOLUSDT (30M) Analysis - Should You Short?Based on the 30-minute timeframe, SOL is currently trading at 132.85 USDT (-0.52%). Here’s an analysis to help you decide whether to open a short position.⸻🔎 Factors Supporting a Short Position✅ Bearish Signal (50% Down)•Increased selling pressure with indicators signaling a potential downtrend.✅ Fibonacci Retracement Suggesting Downside Targets•TP1: 130.31 USDT (-4.5%)•TP2: 128.48 USDT (-6%)•TP3: 126.64 USDT (-7.6%)•TP4: 124.02 USDT (-9.8%)•TP5: 122.46 USDT (-11%)•TP6: 120.69 USDT (-12.9%)✅ EMA 20 Acting as Resistance•If the price stays below the EMA 20, it could confirm a continued downtrend.✅ Key Support Level at 130.11 USDT•If SOL breaks below this level, the price may drop further toward 128 - 126 USDT.⸻🚨 Risk Factors to Consider Before Shorting❌ Support at 130.11 USDT May Cause a Bounce•Monitor whether SOL holds above this level before entering a short position.❌ Stop Loss at 139.93 USDT (If the Price Reverses Upward)•If SOL breaks above the 136 - 139 USDT resistance zone, it could flip bullish instead.⸻📊 Recommended Trading Strategy📌 Short Entry Conditions:•If SOL closes below 130.11 USDT, a short position targeting 128 - 126 USDT could be considered.•If SOL retests the 136 - 139 USDT resistance and gets rejected, a short entry may be valid.📌 Long Entry Conditions (If Trend Reverses to Bullish):•If SOL breaks above 139 USDT, wait for confirmation before considering a long position.⸻✅ Final Recommendation•Wait for a break below 130.11 USDT before shorting for better confirmation.•Set a stop loss at 139.93 USDT to manage risk.•Use volume and RSI indicators for further validation.📉 Overall: Shorting is viable if SOL breaks below 130.11 USDT, but monitor support levels closely! 🚨