🚀 $SOL Technical Analysis August 08, 2025: PRICE STANDS AT $175.13 WITH BULLISH MOMENTUM 📈
📊 Market Insight
• Current Price: $175.13 USDT
• Moving Averages (MAs) indicate a bullish trend with MA(7) at 174.62, MA(25) at 170.39, and MA(99) at 172.28, showing price above all key MAs.
• Volume is strong at 3.62M SOL (632.87M USDT), with a 2.78% increase, suggesting growing market interest and bullish activity.
• MACD shows a bullish trend with DIF at 2.56, DEA at 1.56, and MACD at 1.00, indicating increasing bullish momentum.
• RSI values suggest a neutral to overbought zone, with RSI(6) at 60.05, indicating strong bullish momentum with potential for continuation.
📊 Important Levels to Watch
🔼 Resistance Levels:
$178.13
$180.00
$186.68
🔽 Support Levels:
$174.62
$170.39
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $178.13
☑️ Entry Point: $178.50 (enter if price breaks above $178.13 with bullish momentum confirmation)
🎯 Price Target:
TP1: $180.00
TP2: $186.68
🛑 Stop Loss: $177.50 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above $178.13, increasing volume, RSI(6) rising above 65, and MACD showing a bullish crossover.
🐻 Bearish Trade Setup: Drop below $174.62
☑️ Entry Point: $174.30 (enter if price falls below $174.62 with bearish momentum confirmation)
🎯 Price Target:
TP1: $170.39
🛑 Stop Loss: $175.00 (above the support level)
⚠️ Confirmation: Watch for a strong bearish candle close below $174.62, declining volume, RSI(6) dropping below 50, and MACD confirming bearish momentum.
📌 Suggestion to Open Positions Today:
The current price action reflects bullish momentum with a 2.78% increase and a rising RSI(6) nearing overbought levels. A breakout above $178.13 could signal further upside, while a drop below $174.62 might indicate a pullback. Monitor volume and RSI for confirmation before entering positions.
