🚀 $SOL Technical Analysis April 30, 2025: Ready for another rebound to $150? 🔥
📊 Market Insight
• Current Price: 146.03 USDT (down 1.52% from $148.88)
• Moving Averages:
MA(7): 147.17
MA(25): 147.91
MA(99): 148.65
• Volume: 86,163.839 SOL (recent spike to 657K)
• Indicators:
RSI(6): 31.12 (oversold)
RSI(12): 38.55 (nearing oversold)
RSI(24): 43.56
MACD: -0.27 (bearish)
DIF: -0.43
DEA: -0.16
• The price being below the MA(7), MA(25), and MA(99) suggests that the overall trend remains bearish.
• The current volume is 86,163.839 SOL, which is higher than the 29,735.806 SOL from the previous chart, suggesting increased selling pressure.
• RSI(6) at 31.12 is in oversold territory (below 40), and RSI(12) at 38.55 is close to oversold, suggesting that selling pressure may be nearing exhaustion.
📊 Important Levels to Watch
🔼 Resistance levels: $147.17 (MA(7)), $147.91 (MA(25)), $148.65 (MA(99)), $150
🔽 Support levels: $145.20 (recent low), $144.58 (prior low), $143
💡 TRADE PLANS:
🐂 Bullish Trade Setup: A Short-term Bounce.
☑️ Entry Point: $145-$146 (entry if there is a bounce from 145.20 with increasing volume)
🎯 Price Target:
TP1: $147.17
TP2: $147.91
TP3: $148.65
TP4: $150
🛑 Stop loss: $143 (Tight SL)
⚠️ Reason: The RSI(6) is oversold and a bullish MACD crossover would confirm the uptrend. A narrow MACD gap would further support this case.
🐻 Bearish Trade Setup : Further Decline
☑️ Entry point: below $145.2 (when $145.2 support level breaks)
🎯 Price Target:
TP1: $144.58
TP2: $143
🛑 Stop loss (SL): $147
⚠️ Reason: MACD is bearish with a widening gap. If the price breaks below the 145.20 support level, it could reset the 24-hour low.
📌 Suggestion to open positions today
Keep an eye on volume and the MACD for confirmation of the next move. Also, broader market trends (like Bitcoin’s movement) can heavily influence Solana, so consider checking the overall crypto market sentiment if possible
