🚀 $SOL Technical Analysis April 24, 2025: Bearish pullback as expected – The Bulls are losing control at $150 - $155 zone.
📊 Market Insight
🔍 Current Price: $149.02 USD
20-day SMA: $150.1
Bollinger Bands: $101.6 – $152.8
MACD: Bullish crossover (momentum increasing)
RSI (14): 65.29 (approaching overbought)
$SOL has shown strong upward movement recently, but on the 1-hour chart, it's now forming lower highs and struggling to hold above the $150 level. Price action is indicating weakening bullish momentum with multiple rejection candles near $154. This sets up a potential short-term retracement.
📊 Important Levels to Watch
🔽 Support levels: A pullback to $145–150 could offer a solid entry.
🔼 Resistance levels: If momentum continues, $160–170 is the next target range.
💡 TRADE PLANS:
🐂 Bullish Trade Setup: A clear break out of $153.2-$155
☑️ Entry Point: $153-154 zone (wait for the break out signal with volume and RSI)
🎯 Price Target:
TP1: $158.8
TP2: $162.5
🛑 Stop loss: $150.9
⚠️ Reason: A break out of $153.2 - $155 is a clear signal that the bulls are taking control and #SOLANA is break out of this side way price action between $149-$154 range.
🐻 Bearish Trade Setup : Short when losing support at $148
☑️ Entry point: below $148
🎯 Price Target:
TP1: $146
TP2: $143 (a breaking down from long term uptrend line)
🛑 Stop loss (SL): $150
⚠️ Reason: Losing support at $147.3-$148 zone may lead to stronger selling pressure.
📌 Suggestion to open positions today
🔹 If #sol fails to reclaim and close above $151.50 soon, it may continue its downward correction before attempting another bullish leg. Volume has also started fading, further supporting a short-term bearish scenario.
🔹 Wait for the clear signal before entering positions.
🔹 Keep your leverage low at 5x, max 13x.
