Solana (SOL) Technical Analysis & Short-Term Trading Outlook

SOLUSDT Perp 168.22 +4.45%

As of August 3, 2025

Pair: SOL/USDT (1D timeframe)

Current Price: $167.99 (+3.63%)

📌 Key Technical Highlights

Exponential Moving Averages (EMA):

EMA (7): $168.84 — Immediate resistance just above current price

EMA (25): $171.88 — Critical resistance zone to watch

EMA (99): $162.59 — Strong short-term support

MACD:

Currently in a bearish zone

Histogram flattening, indicating loss of downside momentum

A bullish crossover (MACD line crossing above the signal line) could confirm a reversal

Relative Strength Index (RSI - 6):

42.99 — Recovering from oversold territory, but remains below neutral (50)

Indicates neutral-to-bearish short-term momentum

Candlestick Pattern:

A strong bullish daily candle formed today

Price rebounded off EMA(99) near $160, suggesting a potential local bottom after consolidation

📈 Trading Scenarios

🔼 Bullish Case

If SOL holds above $168 and breaks above the key resistance at $171.88, it could target the following levels:

R1: $180.88

R2: $195+

Ultimate Target: $200 — Recent swing high

🔽 Bearish Case

If SOL fails to break $171 and drops below $162, it may lead to:

S1: $152.21

S2: $141.13

Further downside potential to $130 if bearish momentum strengthens

📊 Conclusion & Strategy

Short-Term Bias: Neutral to slightly bullish

Actionable Insight:

Monitor for a breakout above $172 or

A rejection and drop below $162

Expect a decisive move within the next 1–3 trading days