🚀 $SOL Technical Analysis May 19, 2025: BEARS PUSH HARD AFTER A HUGE PUMP, PRICE TESTING SUPPORT NEAR $164 - $163 ZONE ⚠️
📊 Market Insight
• Current Price: 167.38 USDT
• Moving Averages (MAs) are showing a mixed trend: MA(7) at 168.77 and MA(25) at 170.33 are above the current price, indicating short-term bearish pressure, while MA(99) at 170.07 suggests a longer-term consolidation.
• Volume is relatively low, indicating reduced buying interest and potential for continued selling pressure.
• MACD is bearish, confirming downward momentum.
• RSI values are in neutral territory, which could lead to a potential bounce if buying interest increases.
📊 Important Levels to Watch
🔼 Resistance Levels:
170.34
172.73
177.41
🔽 Support Levels:
164.01
163.37
159.00
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Reversal above $170.34
☑️ Entry Point: $170.50 (enter if price breaks above 170.34 with bullish momentum confirmation)
🎯 Price Target:
TP1: $172.73
TP2: $177.41
🛑 Stop Loss: $168.77 (below the MA(7) to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 170.34, a spike in volume, RSI(6) rising above 70, and a MACD bullish crossover with the DIF moving above the DEA.
🐻 Bearish Trade Setup: Continuation below $164.01
☑️ Entry Point: $163.90 (enter if price breaks below 164.01 with increased volume and bearish confirmation)
🎯 Price Target:
TP1: $163.37
TP2: $159.00
🛑 Stop Loss (SL): $167.38 (above the current price level)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., bearish engulfing), RSI(6) dropping below 30, and the MACD maintaining its bearish trend with the DIF staying below the DEA.
📌 Suggestion to Open Positions Today:
The bearish momentum remains strong, as indicated by the MACD and the price trading below key moving averages. Given the proximity to support and the neutral RSI, a bounce is possible, but tight risk management is essential in this volatile environment.
