🚀 $SOL Technical Analysis May 1, 2025: A beautiful REBOUNDE after a flash crash 🔥
📊 Market Insight
• Current Price: 148.93 USDT
• The price has risen from 144.74 to 148.93, showing a strong bounce from the recent low of 140.32.
• The 1H chart shows a sharp drop from a high of 153.40 to 140.32, followed by a recovery to the current level of 148.93.
• The price is now above the MA(7) at 147.70 and MA(25) at 146.21, but still below the MA(99) at 147.72. This suggests short-term bullish momentum, but the longer-term trend (as indicated by the MA(99)) is still slightly bearish or consolidating.
• The price is approaching the recent high of 149.04 (24H High), which could act as resistance in the short term.
📊 Important Levels to Watch
🔼 Resistance levels: $149.04 (immediate resistance level), $150, $153.40
🔽 Support levels: $147.70 (MA 7), $146.21 (MA 25), $144.46 (minor support), $140.32 (key support level).
💡 TRADE PLANS:
🐂 Bullish Trade Setup: breaking out of 149 level.
☑️ Entry Point: $149.04 - 149.5 (entry if price breaks above 149.04 with increasing volume)
🎯 Price Target:
TP1: $150
TP2: $153.4
🛑 Stop loss: $147.7
⚠️ Reason: The MACD showing positive momentum supports this scenario, but volume needs to increase to confirm the breakout.
🐻 Bearish Trade Setup : pull back from $149.04
☑️ Entry point: below $149 (when there is a rejection from $149 level)
🎯 Price Target:
TP1: $147.7
TP2: $146.21
TP3: $144.46
🛑 Stop loss (SL): $150
⚠️ Reason: The MACD, while bullish, isn’t showing overwhelming momentum, which increases the chance of a pullback if buyers don’t step in.
📌 Suggestion to open positions today
$SOL often moves in correlation with $BTC and the broader crypto market. If BTC is showing bullish momentum, #SOLANA might have a better chance of breaking above 149.04.
Conversely, if BTC pulls back, #solana could follow suit.
