🚀 $SOL Technical Analysis August 04, 2025: PRICE STANDS AT $165.99 WITH RECOVERING MOMENTUM 📈
📊 Market Insight • Current Price: $165.99 USDT • Moving Averages (MAs) indicate a mixed trend with MA(7) at 163.83, MA(25) at 166.04, and MA(99) at 173.78, showing price near MA(25) with slight upward pressure. • Volume is notable at 2.81M SOL (457.74M USDT), with a 2.53% increase suggesting growing buying interest. • MACD shows a potential shift with DIF at -2.64 and DEA at -3.83, indicating weakening bearish momentum. • RSI values suggest a neutral zone, with RSI(6) at 72.10, indicating possible overbought conditions but room for upward movement.
📊 Important Levels to Watch 🔼 Resistance Levels: $170.58 $173.78 $179.24 🔽 Support Levels: $159.20 $155.83
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Breakout above $170.58 ☑️ Entry Point: $171.00 (enter if price breaks above $170.58 with bullish momentum confirmation) 🎯 Price Target: TP1: $173.78 TP2: $179.24 🛑 Stop Loss: $170.00 (below the resistance to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above $170.58, an increase in volume, RSI(6) holding above 70, and MACD showing a bullish crossover.
🐻 Bearish Trade Setup: Drop below $159.20 ☑️ Entry Point: $158.90 (enter if price falls below $159.20 with bearish momentum confirmation) 🎯 Price Target: TP1: $155.83 🛑 Stop Loss: $159.50 (above the current support) ⚠️ Confirmation: Watch for a strong bearish candle close below $159.20, a decline in volume, RSI(6) dropping below 30, and the MACD confirming bearish momentum.
📌 Suggestion to Open Positions Today: The current price action reflects recovering momentum with a 2.53% gain and a high RSI(6). A breakout above $170.58 could lead to further gains, while a drop below $159.20 might signal a reversal. Monitor volume and RSI for confirmation before entering positions.
