Technical Analysis of SOL Coin 🔍 Are We Approaching a New Rally?
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🔸 Current Price: Approximately $166.50
🔸 Weekly High: $172.20
🔸 Weekly Low: $158.90
🔸 24h Trading Volume: Up by 8%, indicating increasing interest
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🔍 Quick Technical Overview:
RSI (Relative Strength Index): 57 ➜ Moderate Positive Momentum
MACD: Positive crossover, supporting the likelihood of continued upward movement
Daily Candles: "Breakout" candle above the previous resistance at $165
ADX: At 33 ➜ Clear upward trend, but needs confirmation
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📉 Important Levels:
Nearby Support: $162
Next Resistance: $174 then $185
Fibonacci 0.618: Intersects at $160, reinforcing the strength of this area as support
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📌 Technical Forecast:
> If the price maintains above $165, we may see a test of the $174 level soon
Breaking below $160 with a daily close could bring the price back to the $148–$152 range
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✅ Potential Entry/Exit Points:
Safe Entry: After a successful retest of the $162 level
Targets: $174 → $185
Stop Loss: Below $158
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📌 Follow Solana's movement daily, as a breakout above $174 could open the way for an extended rally in June.