Solana update
#sol Technical Analysis and Trade Signal 🚨
Chart Overview
Current Price: 144.70
Recent High: 145.19
Support: Around 141.30
Resistance: 145.20+
Indicators Breakdown
Moving Averages:
Price is trading above MA(7) and MA(25).
Testing MA(99) (144.49) – typically a key resistance/support in short timeframes.
RSI (6): 60.16
Slightly bullish momentum; not yet overbought.
Stochastic RSI: 76.07
Nearing overbought territory – potential reversal area soon.
MACD:
Positive value (MACD: 0.11), above signal line (DEA: 0.33)
Indicates continued bullish momentum, but weak divergence.
Trade Signal
Short-Term Bias: Bullish but cautious
Entry Zone (Long):
Buy on breakout above 145.30, ideally with volume confirmation.
Target:
First target: 147.50
Extension target: 149.00
Stop-Loss:
Below 142.80 (under MA(25) & recent price cluster)
Alternate Plan (Bearish scenario)
If price fails to break 145.20 and drops below 143.80, a short setup might trigger.
Short Target:
141.50 (support re-test)
Extension: 139.80 (next price cluster)
Conclusion
Momentum is building to the upside, but indicators suggest price is approaching resistance with some overbought signs. Wait for a confirmed breakout before entering long. Ideal for quick scalps or tight stop short-term trades.
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