🚀 $SOL Technical Analysis June 02, 2025: PRICE HOLDS AT $157-158 RESISTANCE LEVEL, MIXED SIGNALS WITH SLIGHT UPWARD MOVEMENT 🌱
📊 Market Insight
• Current Price: 157.77 USDT
• Moving Averages (MAs) show a mixed trend.
• Volume has decreased to 7.19M/4.96M (Layer 1/Layer 2), suggesting a pause in aggressive trading activity.
• MACD shows a slight bullish divergence.
• RSI values are in neutral territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
158.43 (recent intraday high)
159.49 (recent 24h high)
165.00 (psychological resistance)
🔽 Support Levels:
155.59 (recent low on the chart)
152.14 (next significant support)
150.59 (previous significant low)
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $158.43
☑️ Entry Point: $158.80 (enter if price breaks above 158.43 with bullish momentum confirmation)
🎯 Price Target:
TP1: $159.49
TP2: $165.00
🛑 Stop Loss: $157.00 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 158.43, an increase in volume, RSI(6) rising above 70, and a MACD bullish crossover with DIF moving further above DEA.
🐻 Bearish Trade Setup: Breakdown below $155.59
☑️ Entry Point: $155.20 (enter if price breaks below 155.59 with bearish momentum confirmation)
🎯 Price Target:
TP1: $152.14
TP2: $150.59
🛑 Stop Loss (SL): $157.50 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 155.59, sustained high volume, RSI(6) falling below 50, and the MACD showing a bearish trend with DIF dropping below DEA.
📌 Suggestion to Open Positions Today:
Traders should remain cautious as the price stabilizes at $157.77 with mixed signals. Wait for a clear breakout above $158.43 for a bullish setup or a breakdown below $155.59 for a bearish move. Given the reduced volume and neutral indicators, employ tight stop losses and closely monitor volume and RSI trends for momentum confirmation.
