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๐จ SOL showing weaknessโฆ but is this a dip or a setup for reversal?
๐ SOL Daily Update โ April 28
๐ฐ Current Price: 84.29
๐ Daily Close: 84.82 (bearish close)
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### ๐ Market View
- Daily candle closed red โ selling pressure is visible
- Price is now trading below the daily close โ short-term weakness
- Momentum is slowing after recent movement
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### ๐งฑ Market Structure
- Still within short-term range, but bearish pressure increasing
- No clear breakdown yet, but structure is getting weaker
- Market could be entering a distribution phase
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### ๐ Key Zones
- Resistance: 86.5 โ 88.0
- Near Support: 83.5 โ 84.0
- Major Support: 80.0 โ 81.5
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### ๐ Notes
- Losing 83.5 could trigger a move toward 80
- Holding above 84 may lead to a short-term bounce
- Watch volume โ still no strong confirmation for a big move
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### โ
Conclusion
- Current Bias: Neutral โ Slightly Bearish
- Strategy:
- Wait for reaction at support before entering
- Short-term traders can look for bounce trades
- Avoid chasing in the middle of the range
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$SOL
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