#FOMCMeeting Updated Signal for Solana
As of early May 2025, Solana (SOL) is trading around $146.74 on Binance. Over the past three months, SOL has rebounded from a low of approximately $104, showing signs of a bullish trend. Here's a detailed technical analysis and a medium-risk trading plan for a one-week horizon.
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📈 Trend Overview
Current Price: ~$146.74
3-Month Range: $104 (low) to $203 (high)
Recent Movement: $SOL has been consolidating near the $145–$150 range, indicating a potential breakout.
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🔍 Technical Indicators
50-Day SMA: Approximately $144.54
200-Day SMA: Approximately $166.58
RSI (14-Day): Above 60, suggesting building momentum but not yet overbought.
MACD: Bullish crossover observed, indicating potential upward momentum.
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📊 Support & Resistance Levels
Support:
$140: Recent consolidation support.
$123: Previous support level.
$108: Long-term support.
Resistance:
$157: Immediate resistance level.
$180: Next significant resistance.
$205: Long-term resistance.
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🧭 Trade Recommendation
Position: Long (Bullish Bias)
Entry Price: Around $146.74
Take Profit (TP): $160
Stop Loss (SL): $140
Risk-Reward Ratio: Approximately 2:1
Rationale: The current consolidation near $145–$150, combined with bullish indicators like the MACD crossover and RSI above 60, suggests a potential breakout towards $160. Setting a stop loss at $140 helps manage downside risk.
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✅ Confidence Level: Medium
While technical indicators point towards a bullish trend, the presence of resistance at $157 and potential market volatility warrant a medium confidence level. Traders should monitor volume and price action closely.
