🚀 $SOL Technical Analysis July 08, 2025: PRICE STANDS AT $148.85 WITH BEARISH MOMENTUM 📉
📊 Market Insight
• Current Price: 148.85 USDT
• Moving Averages (MAs) show a bearish trend with MA(7) at 148.68, MA(25) at 150.47, and MA(99) at 149.31, indicating short-term downward pressure.
• Volume has decreased to 2.21M SOL (24h Vol/USDT 333.09M), suggesting reduced buying activity.
• MACD shows a bearish trend with DIF at -0.68 and DEA at -0.50.
• RSI values are in the neutral territory (RSI(6): 45.49, RSI(12): 42.32, RSI(24): 45.54).
📊 Important Levels to Watch
🔼 Resistance Levels:
151.14
153.89
154.33
🔽 Support Levels:
147.97
145.22
144.78
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $151.14
☑️ Entry Point: $151.25 (enter if price breaks above 151.14 with bullish momentum confirmation)
🎯 Price Target:
TP1: $153.89
TP2: $154.33
🛑 Stop Loss: $150.95 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 151.14, an increase in volume, RSI(6) rising above 50, and MACD showing a bullish crossover with DIF rising above DEA.
🐻 Bearish Trade Setup: Reversal below $147.97
☑️ Entry Point: $147.80 (enter if price drops below 147.97 with bearish momentum confirmation)
🎯 Price Target:
TP1: $145.22
TP2: $144.78
🛑 Stop Loss (SL): $148.20 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 147.97, a decline in volume, RSI(6) dropping below 40, and the MACD showing a bearish trend with DIF falling below DEA.
📌 Suggestion to Open Positions Today:
The current price action indicates a bearish trend with declining volume and a negative MACD. A drop below $147.97 could target $145.22, while a recovery above $151.14 may lead to a rise toward $153.89. Given the bearish momentum, consider entering a short position with confirmation signals and use appropriate stop losses due to potential volatility.
