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Sol (SOLUSDT) is trying to gain positive momentum – Analysis – 06-05-2025 $SOL
The price of Sol currency SOL/USD (SOLUSDT) has declined during its recent instant trading, trying to gain positive momentum that may help it recover and rise again, amidst a short-term corrective upward wave, supported by its continuous trading above its simple moving average for the previous 50 days. Additionally, we notice that the relative strength indicators have reached areas of extreme overselling, significantly exaggerated compared to the price movement, which adds more weight to the positive scenario.
Therefore, our expectations indicate that the price of the currency will rise during its upcoming trades, provided that the support level of $125.80 remains stable, aiming once again for the pivotal resistance level of $157.00 in preparation for attacking it.
Expected direction for upcoming trades: Bullish
Sol (SOLUSDT) is trying to gain positive momentum – Analysis – 06-05-2025 $SOL
The price of Sol currency SOL/USD (SOLUSDT) has declined during its recent instant trading, trying to gain positive momentum that may help it recover and rise again, amidst a short-term corrective upward wave, supported by its continuous trading above its simple moving average for the previous 50 days. Additionally, we notice that the relative strength indicators have reached areas of extreme overselling, significantly exaggerated compared to the price movement, which adds more weight to the positive scenario.
Therefore, our expectations indicate that the price of the currency will rise during its upcoming trades, provided that the support level of $125.80 remains stable, aiming once again for the pivotal resistance level of $157.00 in preparation for attacking it.
Expected direction for upcoming trades: Bullish
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
SOL
142.15
-1.47%
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