📊 Technical Analysis of Solana (SOL/USDT) – May 5, 2025

Market Summary:

Solana (SOL) is currently trading around $145.06 USD, with a slight intraday correction of -1.85%. The price has fluctuated between a low of $142.81 and a high of $147.52 in the last 24 hours.

Technical Context:

Key Support: The $140 area has acted as significant support, backed by the 50-day moving average at $142.50.

Immediate Resistance: The $150 level represents an important resistance. A sustained break above this level could indicate bullish momentum towards $165.

Technical Indicators:

RSI (14): It is at neutral levels, around 58, suggesting that the market is neither overbought nor oversold.

MACD: Shows a moderate bullish trend, although without clear signals of a significant crossover.

Possible Scenarios:

Bullish: If SOL manages to consolidate above $150, it could target the next objectives at $165 and $180.

Bearish: A drop below $140 could bring the price towards the $123 area, where the next significant support is located.

Conclusion:

Solana is in a consolidation phase within a defined range. Price action in the coming days will be crucial to determine the future direction. Traders should closely monitor the mentioned support and resistance levels to identify trading opportunities.