š
$SOL Technical Analysis June 17, 2025: PRICE STANDS AT $153.20 WITH BEARISH MOMENTUM š
š Market Insight
⢠Current Price: 153.20 USDT
⢠Moving Averages (MAs) indicate a potential shift from bullish to bearish trend.
⢠Volume has increased significantly, but the recent price drop suggests selling pressure outweighing buying interest.
⢠MACD shows a bearish trend.
⢠RSI values are in neutral territory.
š Important Levels to Watch
š¼ Resistance Levels:
155.20 (immediate resistance)
158.80 (next significant resistance)
š½ Support Levels:
149.95 (recent support level)
147.47 (next significant support based on 24h low)
141.97 (recent low acting as immediate support)
š” TRADE PLANS:
š Bullish Trade Setup: Breakout above $155.20
āļø Entry Point: $155.50 (enter if price breaks above 155.20 with bullish momentum confirmation)
šÆ Price Target:
TP1: $158.80
š Stop Loss: $154.50 (below the resistance to manage risk)
ā ļø Confirmation: Look for a strong bullish candle close above 155.20, a surge in volume, RSI(6) rising above 50, and MACD showing a bullish crossover with DIF rising above DEA.
š» Bearish Trade Setup: Breakdown below $149.95
āļø Entry Point: $149.50 (enter if price breaks below 149.95 with bearish momentum confirmation)
šÆ Price Target
TP1: $147.47
TP2: $141.97
š Stop Loss (SL): $150.50 (above the current support)
ā ļø Confirmation: Watch for a strong bearish candle close below 149.95, a decline in volume, RSI(6) dropping below 30, and the MACD continuing to show a bearish trend with DIF falling further below DEA.
š Suggestion to Open Positions Today:
A bearish setup appears more likely given the recent price drop below key MAs and the bearish MACD signal, especially if the price breaks below $149.95 with confirmation. For bullish traders, a rebound above $155.20 could signal a recovery, but the current momentum and RSI suggest caution. Tight stop losses are highly recommended due to the volatile price action.
#solana #dailyearnings #signaladvisor #solanausdt