🚀 $SOL Technical Analysis June 06, 2025: PRICE STANDS AT $145.98 WITH STRONG BEARISH MOMENTUM ⚠️
📊 Market Insight
• Current Price: 145.98 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has decreased significantly.
• MACD shows a bearish signal, indicating sustained bearish momentum.
• RSI values are in oversold territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
146.74
149.59 (MA(25))
154.92 (MA(99))
🔽 Support Levels:
141.53
140.00 (psychological support)
135.00 (next significant support)
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $146.74
☑️ Entry Point: $147.00 (enter if price breaks above 146.74 with bullish momentum confirmation)
🎯 Price Target:
TP1: $149.59
TP2: $154.92
🛑 Stop Loss: $145.50 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 146.74, an increase in volume, RSI(6) rising above 50, and a MACD bullish crossover with DIF moving above DEA.
🐻 Bearish Trade Setup: Breakdown below $141.53
☑️ Entry Point: $141.30 (enter if price breaks below 141.53 with bearish momentum confirmation)
🎯 Price Target
TP1: $140.00
TP2: $135.00
🛑 Stop Loss (SL): $142.50 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 141.53, sustained high volume, RSI(6) falling below 30 (deeper into oversold), and the MACD showing a continued bearish trend with DIF dropping further below DEA.
📌 Suggestion to Open Positions Today:
The RSI in oversold territory (especially RSI(24) at 38.42) suggests a potential short-term bounce, but the overall trend remains strongly bearish, as confirmed by the moving averages and MACD. Traders should exercise caution, waiting for a clear breakout above $146.74 for a bullish setup or a breakdown below $141.53 for a bearish move. Given the low volume and oversold RSI, a reversal could be on the horizon. Use tight stop losses to manage risk effectively in this volatile environment.
