Solana Short Trade Recap

In this chart, you will see a bear flag and the build up near the lows of the support of the bearish flag leading to the break of the trendline support.

First trade is 3 hours and 30 minutes
Second trade is 15 minutes

Breakdown:

First trade is the strong selling momentum to the downside and afterwards we identify in the M15 chart the supply where it kind of range/contracted before gaining momentum again to the downside.



Here's a screenshot for the M5 where you can clearly see a strong rejection which I identified as a supply area



I am looking to update this SOL trades of mine going through the week as we may get more selling pressure.

Some fundamental news indicating the fall of SOLUSDTPERP is through the bankruptcy of FTX and migration of blue chip NFTs such as DeGods and y00ts.