๐ $SOL Technical Analysis April 25, 2025: BULLISH CONTINUATION ๐ฅ
๐ Market Insight
๐ Current Price: $151.03 USD
Technical indicators show bullish momentum, with the Average Directional Index (ADX) at 100, though the Relative Strength Index (RSI) at 76.32 suggests overbought conditions. ๏ฟผ
๐ Important Levels to Watch
๐ฝ Support levels: A pullback to $148โ150 could offer a solid entry. A break out of $147 level will trigger short-term downtrend.
๐ผ Resistance levels: If momentum continues, $160โ170 is the next target range.
๐ก TRADE PLANS:
๐ Bullish Trade Setup: A clear break out of $153.2-$155
โ๏ธ Entry Point: $153-154 zone (wait for the break out signal with volume and RSI)
๐ฏ Price Target:
TP1: $158.8
TP2: $162.5
๐ Stop loss: $150.9
โ ๏ธ 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.
๐ป Bearish Trade Setup : Short when losing support at $148
โ๏ธ Entry point: below $148
๐ฏ Price Target:
TP1: $146
TP2: $143 (a breaking down from long term uptrend line)
๐ Stop loss (SL): $150
โ ๏ธ Reason: Losing support at $147.3-$148 zone will form a Double TOPS pattern which is bearish and may lead to stronger selling pressure to the lower support levels.
๐ Suggestion to open positions today
๐น Watching the price action along the 4H chart's long-term uptrend line (ascending channel)
๐น Wait for the clear signal before entering positions.
๐น Keep your leverage low at 5x, max 13x.
