SOL Analysis and Trading Recommendations for This Week
The current price of Solana (SOL) is $182.51 USD, with a slight decrease of 0.4% over the past 24 hours, amidst daily trading exceeding $6 billion. 14 This price supports a strong support level at $180, while facing resistance at $190-200, backed by technical analysis showing a weekly upward trend with a rising 200-day moving average since September. 13
Technical Analysis: SOL has seen a weekly decrease of 21.6% due to general market pressures, but it maintains its dominance in high-speed transactions, with increased activity in DeFi and NFTs. The RSI at 20 indicates overbought conditions, reducing the risk of further downside, while the MACD shows a slowdown in selling pressure. 20 Predictions indicate a rise to $183-185 by the end of the week, supported by positive U.S. CPI data and a 95% chance of ETF approval for SOL by the end of 2025. 11 16
Recommendations:
• Buy: at $180-183, target $190-200 (potential profit 5-10%), stop loss at $175.
• Short sell: if it drops below $180, target $170, but the long-term trend is bullish towards $250-350 in October. 17
• Avoid high risks; monitor regulatory news. Annual forecasts expect $300-500 with network growth.