🚀 $SOL Technical Analysis June 04, 2025: PRICE STANDS AT $157.16 WITH CAUTIOUS OUTLOOK ⚖️

📊 Market Insight
• Current Price: 157.16 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has slightly decreased, suggesting reduced trading activity compared to recent peaks.
• MACD shows a bearish signal.
• RSI values are in neutral territory.

📊 Important Levels to Watch
🔼 Resistance Levels:
162.22
165.00 (psychological resistance)
166.22 (next significant resistance)
🔽 Support Levels:
150.59
149.44 (next significant support)
145.00 (psychological support)

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $162.22
☑️ Entry Point: $162.50 (enter if price breaks above 162.22 with bullish momentum confirmation)
🎯 Price Target:
TP1: $165.00
TP2: $166.22
🛑 Stop Loss: $161.00 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 162.22, an increase in volume, RSI(6) rising above 50, and a MACD bullish crossover with DIF moving above DEA.

🐻 Bearish Trade Setup: Breakdown below $150.59
☑️ Entry Point: $150.30 (enter if price breaks below 150.59 with bearish momentum confirmation)
🎯 Price Target:
TP1: $149.44
TP2: $145.00
🛑 Stop Loss (SL): $151.50 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 150.59, sustained high volume, RSI(6) falling below 40, and the MACD showing a continued bearish trend with DIF dropping further below DEA.

📌 Suggestion to Open Positions Today:
The price of $SOL at 157.16 USDT shows a cautious outlook, with bearish signals from the MACD and the price trading below the MA(25). The neutral RSI suggests a lack of strong momentum in either direction. Traders should adopt a conservative approach, waiting for a clear breakout above $162.22 for a bullish setup or a breakdown below $150.59 for a bearish move. Given the current market conditions, monitor volume closely and use tight stop losses to manage risk effectively.

#sol #dailyearnings #signaladvisor #solana