📊 Technical Analysis of Solana (SOL) – Updated as of May 6, 2025
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🔍 Market Overview
Current price: $148.79 USD
Daily change: +3.39%
Intraday high: $149.25 USD
Intraday low: $141.70 USD
Overall trend: Bullish with signs of consolidation
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📈 Key Technical Indicators
1. RSI (Relative Strength Index):
Current value: 59.3
Interpretation: The RSI at 59.3 indicates neutral conditions, suggesting that the asset is neither overbought nor oversold.
2. MACD (Moving Average Convergence Divergence):
Current value: 5.8
Interpretation: The positive MACD suggests bullish momentum in the short term.
3. Moving Averages (MA):
MA50: $129.8 USD
MA200: $181.7 USD
Interpretation: The crossing of the MA50 below the MA200 ("death cross") indicates a long-term bearish trend.
4. Support and Resistance Levels:
Key support: $102.07 USD
Key resistance: $272.74 USD
Interpretation: These levels represent areas where the price has shown significant reactions in the past.
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🔮 Short- and Medium-Term Outlook
Strong support: $175 USD
Key resistances: $202 and $208 USD
Projection for May 2025: Estimated average price of $424.07 USD, with a potential maximum of $461.83 USD.