🚀 $SOL Technical Analysis June 05, 2025: PRICE STANDS AT $153.64 WITH BEARISH MOMENTUM ⚠️
📊 Market Insight
• Current Price: 153.64 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has decreased, suggesting lower trading activity compared to recent level.
• MACD shows a bearish signal.
• RSI values are in oversold territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
156.15 (MA(99))
159.85
162.00 (psychological resistance)
🔽 Support Levels:
151.07
150.00 (psychological support)
145.00 (next significant support)
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $156.15
☑️ Entry Point: $156.50 (enter if price breaks above 156.15 with bullish momentum confirmation)
🎯 Price Target:
TP1: $159.85
TP2: $162.00
🛑 Stop Loss: $155.00 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 156.15, an increase in volume, RSI(6) rising above 50, and a MACD bullish crossover with DIF moving above DEA.
🐻 Bearish Trade Setup: Breakdown below $151.07
☑️ Entry Point: $150.80 (enter if price breaks below 151.07 with bearish momentum confirmation)
🎯 Price Target:
TP1: $150.00
TP2: $145.00
🛑 Stop Loss (SL): $152.00 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 151.07, sustained high volume, RSI(6) falling below 30 (further into oversold), and the MACD showing a continued bearish trend with DIF dropping further below DEA.
📌 Suggestion to Open Positions Today:
The RSI in oversold territory suggests a potential short-term bounce, but the overall trend remains bearish. Traders should exercise caution, waiting for a clear breakout above $156.15 for a bullish setup or a breakdown below $151.07 for a bearish move. Given the low volume and oversold RSI, a reversal could be on the horizon—monitor volume spikes and RSI for signs of recovery. Use tight stop losses to manage risk effectively in this volatile environment.
