๐ $SOL Technical Analysis October 07, 2025: PRICE STANDS AT $223.52 WITH BEARISH SHORT-TERM SIGNALS BUT POTENTIAL OVERSOLD REBOUND ๐
๐ Market Insight โข Current Price: $223.52 USDT โข Moving Averages (EMAs) show mixed signals, with the price below short-term EMAs, indicating recent downward pressure, but above longer-term EMAs, suggesting underlying long-term support. โข Volume is high at $945.18M in 24h (USDT), reflecting significant trading activity amid the pullback. โข RSI levels indicate oversold conditions on shorter timeframes, pointing to potential exhaustion of selling pressure and room for a bounce.
๐ Important Levels to Watch ๐ผ Resistance Levels: $230.00 $235.00 $240.00 ๐ฝ Support Levels: $220.00 $210.00 $204.00
๐ก TRADE PLANS: ๐ Bullish Trade Setup: Rebound above $230.00 โ๏ธ Entry Point: $231.00 (enter if price breaks above $230.00 with bullish momentum confirmation) ๐ฏ Price Target: TP1: $235.00 TP2: $240.00 ๐ Stop Loss: $222.00 (below EMA99 to manage risk) โ ๏ธ Confirmation: Look for a strong bullish candle close above $230.00, increasing volume, RSI(6) above 40, and positive price action reclaiming short-term EMAs.
๐ป Bearish Trade Setup: Breakdown below $220.00 โ๏ธ Entry Point: $219.00 (enter if price falls below $220.00 with bearish momentum confirmation) ๐ฏ Price Target: TP1: $210.00 TP2: $204.00 ๐ Stop Loss: $225.00 (above recent lows) โ ๏ธ Confirmation: Watch for a strong bearish candle close below $220.00, sustained high volume on downside, RSI(6) below 30, and breakdown below EMA99.
๐ Suggestion to Open Positions Today: Solana has pulled back to $223.52, dipping below short-term EMAs after hitting a 24h high of $237.79, but itโs holding above key long-term supports with oversold RSI readings. High trading volume suggests volatility, and a rebound toward $240.00 is possible. However, a break below $220.00 could accelerate downside to $204.00. Monitor for RSI divergence and volume shifts before entering trades.
