As of April 23, 2025, Solana $SOL is trading around $151.50, reflecting a 4.75% increase over the past 24 hours . The recent price surge has led to over $20 million in short positions being liquidated .

📈 Current Technical Overview (1-Hour Timeframe)

Trend: Bullish momentum persists, with SOL up over 17% in the past week .

RSI (14): Approximately 59.4, indicating neutral to slightly bullish conditions .

MACD: Positive at 2.43, though histogram bars are declining, suggesting potential momentum slowdown .

Stochastic RSI: High at 95.49, indicating overbought conditions .

Moving Averages: Mixed signals; 9 indicate buy, 4 sell, and 2 neutral .

🔔 Trading Signal: Cautious Bullish

Given the current indicators:

Entry Point: Consider entering on a minor pullback towards the $148–$150 range.

Take Profit Targets: $155 (immediate resistance), followed by $160.

Stop Loss: Set below $145 to manage downside risk.

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⚠️ Key Considerations

Overbought Signals: High Stochastic RSI suggests a potential short-term pullback.

Resistance Levels: Immediate resistance at $155; breaking this could lead to further gains .

Market Sentiment: Positive, with increased investor activity and institutional interest .