$SOL
As of May 5, 2025, Solana (SOL) is trading at $144.83 with a 24-hour trading volume of $258.16 million USDT. Here's a concise technical analysis with key trading signals:
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š Current Market Snapshot
Price: $144.83
24h Volume: $258.16M
24h Range: $142.81 ā $147.52
Trend: Bearish
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š Technical Indicators
50-Day Moving Average: $211.41 (Price below MA indicates a bearish trend)
Relative Strength Index (RSI): 35.83 (Approaching oversold conditions)
Volume: Above average, suggesting strong selling pressure
Chart Patterns: Descending wedge formation, indicating potential for a breakout
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š Support & Resistance Levels
Support:
$135.00 (Key psychological level)
$126.30 (Previous low)
Resistance:
$155.00 (Immediate resistance)
$175.70 (Recent swing high)
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š§ Short-Term Trading Signals
Bearish:
Break below $135.00 could lead to further downside towards $126.30
RSI below 30 indicates oversold conditions; potential for a short-term rebound
Bullish:
Break above $155.00 may signal a reversal towards $175.70
Monitor for confirmation of descending wedge breakout
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š Summary
SOL is currently in a bearish phase, with key support around $135.00. Traders should watch for a breakout from the descending wedge pattern, which could indicate a shift in momentum.
