[Bitop Review] ETH and SOL Bearish Breakdown: Short Entry Points and Targets

ETH

ETH previously failed to challenge the previous high and broke below the trend line along with the broader market on October 10, with the overall pattern turning bearish.

The price found support at $3,435 and rebounded. Recently, after retesting the resistance zone, it encountered resistance and pulled back near $4,250, with the resistance level approximately equal to Fibonacci 0.382.

As of writing, it is temporarily reported at $4,030. Investors can choose to enter a short position at market price or set up a short order near $4,095 (the latter being Fibonacci 0.5). Take-profit targets can be set in batches at $3,435 / $3,080 / $2,800. Stop-loss can be set above $4,300.

Reference Levels:

l Direction: Short

l Entry: $4,030 (market) — $4,095

l Take-Profit: $3,435 / $3,080 / $2,800

l Stop-Loss: $4,300

SOL

SOL also pulled back after retesting the resistance zone following the broader market decline on October 10, with the price encountering resistance and pulling back at $211.25, almost coinciding with Fibonacci 0.5.

As of writing, it is temporarily reported at $195.3. Investors can choose to enter a short position at market price or set up a short order near $200. Take-profit targets can be set in batches at $168.8 / $157.8 / $145.75 / $140. Stop-loss can be set according to personal risk tolerance, at $211.3 to $218.01.

Reference Levels:

l Direction: Short

l Entry: $195.3 (market) — $201.15

l Take-Profit: $168.8 / $157.8 / $145.75 / $140

l Stop-Loss: $211.3 / $218.01

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.