1. Current price performance $SOL
- Current price: ~$155.18 (+3.69% in 24 hours).
- Daily trading range: $149.17 - $156.61.
- Short-term trend: Formation of higher lows with a bounce from the $148.08 level to $155.24 yesterday, then stabilizing around $152.
2. Major technical indicators
- Moving averages: "Strong Buy" signal across all timeframes (from 5 minutes to 200 days), with price trading above the averages.
- Oscillators:
- RSI (14): 67.5 (Buy signal below overbought area (>70)).
- MACD: Positive with buying lines converging.
- Buying power: 58.9% of trading volumes favor buyers (Long/Short ratio: 1.38).
- Chart patterns:
- Cup and Handle: Currently forming, targeting a breakout at $159 then $177-$181 upon confirmation.
- Double bottom at $147: Strong support indicating buyer dominance.
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⚖️ Critical support and resistance levels
| Strong support | $150 - $147
| Secondary support | $142
| Immediate resistance | $154.79
| Major resistance | $157 - $160
| Bullish target | $180
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🔮 Today's forecast
- Base scenario (70% probability):
- Continued rise provided it holds above $150.
- Breaking $157 may push the price towards $160-$165, especially with improved technical indicators and sentiment.
- Alternative scenario (30% probability):
- Price rejection at $157 with a pullback to $150.
- Breaking $147 may push the price to test $142 (23.6% Fibonacci level).
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⚠️ Potential risks
1. Volatility from trade news: Any deterioration in US-China talks may increase selling pressure.
2. Weak upward momentum: RSI has not yet exceeded 70, and may lose momentum if trading volume does not increase.
3. Market reliance on meme coins: Institutional criticism of Solana as a "one-trick pony" may affect long-term confidence.
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💎 Summary of recommendations
- Day traders: Buy above $152.5 with a stop loss below $149.5.
- Average investors: Monitor break above $157 to enter buy positions targeting $165.
- Caution: Monitor trade talks outcomes and close above $150.
