🚀 $SOL Technical Analysis May 11, 2025: BULLS HOLDING STRONG, TESTING KEY RESISTANCE NEAR $176.15 🔥

📊 Market Insight
• Current Price: 175.40 USDT.
• Moving Averages (MAs):
MA(7): 176.68
MA(25): 174.09
MA(99): 170.93
The MA(7) is above the MA(25), signaling a short-term bullish trend, and both are well above the MA(99), confirming a longer-term uptrend.

• Volume: 17,417,916 is significantly lower than the MA(5) and MA(10). This could suggest either consolidation or a potential pullback if momentum doesn’t pick up.

• MACD Line: 0.02
The MACD is slightly positive, the near-zero value suggests momentum is weak and could shift either way.

• RSI:
RSI(6): 45.63
RSI(12): 52.08
RSI(24): 54.49
The RSI values are in neutral territory.

📊 Important Levels to Watch
🔼 Resistance Levels:

176.15

180.26

183.29

🔽 Support Levels:

168.72

163.76

154.24

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $176.15
☑️ Entry Point: $176.50 (enter if price breaks above 176.15 with increased volume)
🎯 Price Target:
TP1: $180.26
TP2: $183.29
🛑 Stop Loss: $168.72 (below recent consolidation to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 176.15, a spike in volume, and a MACD line trending upward with the DIF pulling further above the DEA.

🐻 Bearish Trade Setup: Rejection at $176.15
☑️ Entry Point: $174.00 (enter if price fails to break 176.15 and shows bearish rejection with a volume increase)
🎯 Price Target:
TP1: $168.72
TP2: $163.76
🛑 Stop Loss (SL): $176.15 (above the resistance)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., shooting star or bearish engulfing), RSI(6) dropping below 40, and a MACD bearish crossover where the DIF falls below the DEA.

📌 Suggestion to open positions today: The neutral RSI indicates the market could go either way. Traders should wait for a clear breakout above 176.15 with confirmation for a bullish setup, or a rejection with signals for a short position.

#sol #dailyearnings #signaladvisor