SOL Crypto Futures Trade Plan 2025-04-23
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Trading Rules:
The strategy involves trading crypto futures with leverage, typically between 50-150x, and entering trades at market open if most market insights suggest a trend direction. Position sizing will be based on account equity and risk tolerance, and risk management will always include stop-loss and take-profit levels.
Required Analysis Steps:
Technical Analysis Synthesis:
The current price of SOL ($151.30) is above the SMA (20) of $128.67 and SMA (50) of $129.24 but below the SMA (200) of $180.92, indicating a potential trend reversal or continuation depending on the direction of the moving averages. The RSI (14) reading of 64.88 suggests that SOL is slightly overbought, which could lead to a pullback. The Bollinger Bands show the upper band at $156.17 and the lower band at $101.17, with the middle band (20-period SMA) at $128.67. The price is currently below the upper band, indicating potential resistance. Key support levels include the lower Bollinger Band ($101.17) and the SMA (50) ($129.24), while key resistance levels include the upper Bollinger Band ($156.17) and the SMA (200) ($180.92). Market Sentiment Integration: