๐ Current Technical Analysis
๐ Chart Date: April 17, 2025
๐ Closing Price: 134.55 USDC
๐ Recent Low: ~95.15 USDC
๐ Moving Averages:
MA(7) โ 129.04 (short-term)
MA(25) โ 124.85 (mid-term)
MA(99) โ 166.63 (long-term)
๐ Key Signals
โ Short-term bullish trend:
SOL has bounced strongly from the 95$ lows, breaking above both the 7-day and 25-day moving averages, indicating positive momentum. The last few candles show rising volume โ another good sign for a potential continuation of the uptrend.
โ Golden Cross between MA(7) and MA(25):
The 7-day moving average has crossed above the 25-day MA โ a classic bullish signal.
๐ Key resistance incoming:
The first major resistance is around 150$, where consolidation or rejection might occur.
Above that, a strong resistance zone lies at 165โ170$, near the 99-day MA.
๐ Rising volume:
The recent uptick in trading volume suggests accumulation by market participants, which strengthens the case for further upside.
๐ฎ Forecast for the coming days (scenarios)
Scenario 1 โ Bullish (likely):
Break above the 135โ140$ zone
Short-term target: 150โ155$
Medium-term target: 165โ170$
Scenario 2 โ Healthy pullback:
Possible retracement to the 120โ125$ area (dynamic support)
Potential bounce from there to retest local highs
Scenario 3 โ Bearish reversal (less likely at this stage):
Break below 120$
Return to the 95โ100$ zone (previous lows)
๐ Conclusion
Solana seems to be building a solid bottom with good structure for a rally in the short term. A confirmed break above the 150$ level, with rising volume, would seal the bullish continuation.
