SOL Crypto Futures Trade Plan 2025-05-02
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Technical Analysis Synthesis:
The current price of SOL is $149.92. Evaluating its position relative to key moving averages:
The price is above the SMA (20) at $142.02 and SMA (50) at $132.27, indicating a positive short-term and medium-term trend. However, it is below the SMA (200) at $181.07, suggesting a longer-term downtrend.
The RSI (14) is at 61.29, which is not indicating overbought or oversold conditions, suggesting there is room for movement in either direction.
The Bollinger Bands show an upper band at $159.32, a middle band at $142.02, and a lower band at $124.71. The price is closer to the middle band, suggesting a potential move towards the upper band if the current trend continues.
Key support levels are around $142.02 (SMA 20) and $132.27 (SMA 50), with resistance around $159.32 (Upper Bollinger Band).