🚀 $SOL  Technical Analysis May 1, 2025: A beautiful REBOUND after a flash crash 🔥

📊 Market Insight

•  Current Price: 148.93 USDT

•  The price has risen from 144.74 to 148.93, showing a strong bounce from the recent low of 140.32.

•  The 1H chart shows a sharp drop from a high of 153.40 to 140.32, followed by a recovery to the current level of 148.93.

•  The price is now above the MA(7) at 147.70 and MA(25) at 146.21, but still below the MA(99) at 147.72. This suggests short-term bullish momentum, but the longer-term trend (as indicated by the MA(99)) is still slightly bearish or consolidating.

•  The price is approaching the recent high of 149.04 (24H High), which could act as resistance in the short term.

📊 Important Levels to Watch

🔼 Resistance levels: $149.04 (immediate resistance level), $150, $153.40

🔽 Support levels: $147.70 (MA 7), $146.21 (MA 25), $144.46 (minor support), $140.32 (key support level).

💡 TRADE PLANS:

🐂 Bullish Trade Setup: breaking out of 149 level.

☑️ Entry Point: $149.04 - 149.5 (entry if price breaks above 149.04 with increasing volume)

🎯 Price Target:

TP1: $150

TP2: $153.4

🛑 Stop loss: $147.7

⚠️ Reason: The MACD showing positive momentum supports this scenario, but volume needs to increase to confirm the breakout.

🐻 Bearish Trade Setup : pull back from $149.04

☑️ Entry point: below $149 (when there is a rejection from $149 level)

🎯 Price Target:

TP1: $147.7

TP2: $146.21

TP3: $144.46

🛑 Stop loss (SL): $150

⚠️ Reason: The MACD, while bullish, isn’t showing overwhelming momentum, which increases the chance of a pullback if buyers don’t step in.

📌 Suggestion to open positions today

$SOL often moves in correlation with $BTC and the broader crypto market. If BTC is showing bullish momentum, #SOLANA might have a better chance of breaking above 149.04.

Conversely, if BTC pulls back, #solana could follow suit.

#sol #dailyearnings #signaladvisor