Solarium(SOL) has been on traders’ radars with significant volatility, and right now, the price is positioned at $146.42 with a 1.95% gain. But is this the right time to act or wait? Let’s break down the technicals:
Key Indicators in Play:
1. Moving Averages (MA):
- 7-day MA: $146.53 (acting as immediate resistance)
- 25-day MA: $146.99
- 99-day MA: $148.32
• Price is hovering just below these levels, indicating a potential consolidation or minor breakout.
2. RSI (Relative Strength Index):
- Short-term RSI (6): 35.20
- Mid-term RSI (12): 34.67
- Long-term RSI (24): 35.56
• All RSIs are showing values in the low-30s, signaling thatSUN/USDT is approaching oversold territory, meaning it could be ready for a bounce back if buyers start coming in.
3. Volume:
- 24-hour volume for SOL sits at 2.45M, while USDT volume remains high at 361.08M, showing that liquidity is present for a big move.
Conclusion:
The combination of oversold RSI and consolidation around the 7-day moving average suggests a short-term buying opportunity. However, waiting for confirmation of a breakout above the $146.53 MA is critical to avoid getting trapped in false signals.
Trading Signal:
• BUY signal: IfSUN/USDT breaks above $146.53 and sustains above this level, we could see a potential rally towards $148.49 (next resistance).
Stay alert, keep your eyes on those key levels, and make sure to adjust your strategy based on the live market movements!