🚀 $SOL Technical Analysis June 03, 2025: PRICE REACHES AT $161.67 WITH POTENTIAL FOR UPWARD MOVEMENT 🌱

📊 Market Insight
• Current Price: 161.67 USDT
• Moving Averages (MAs) indicate a mixed trend.
• Volume has increased, indicating renewed trading activity.
• MACD shows a slight positive.
• RSI values are in neutral territory.

📊 Important Levels to Watch
🔼 Resistance Levels:
167.50 (recent high on the chart)
168.43 (psychological resistance)
175.34 (next significant resistance)
🔽 Support Levels:
158.43 (recent intraday low)
155.59 (previous significant support)
150.59 (next major support)

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $167.50
☑️ Entry Point: $168.00 (enter if price breaks above 167.50 with bullish momentum confirmation)
🎯 Price Target:
TP1: $168.43
TP2: $175.34
🛑 Stop Loss: $166.50 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 167.50, an increase in volume, RSI(6) remaining above 70, and a MACD bullish crossover with DIF moving further above DEA.

🐻 Bearish Trade Setup: Breakdown below $158.43
☑️ Entry Point: $158.00 (enter if price breaks below 158.43 with bearish momentum confirmation)
🎯 Price Target:
TP1: $155.59
TP2: $150.59
🛑 Stop Loss (SL): $159.50 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 158.43, 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:
The price of $SOL at 161.67 USDT shows potential for upward movement, supported by increased volume and a slight bullish MACD. Traders should consider a cautious approach, waiting for a clear breakout above $167.50 for a bullish setup or a breakdown below $158.43 for a bearish move. Given the elevated RSI(6), monitor for overbought conditions and use tight stop losses to manage risk effectively.

#sol #dailyearnings #signaladvisor #solana