Solana Price Analysis: Bullish Momentum Builds, But Caution Advised


Solana (SOL) has shown impressive bullish strength lately, climbing 3.52% over the past week and surging 42.96% in the last month. However, it’s still recovering from a broader downtrend, with a 6-month decline of 23.57%.


Currently trading between $138.48 and $151.93, SOL is hovering near its 10-day SMA of $150.69 and slightly above the 100-day SMA of $146.22—a technically supportive setup. Yet, indicators are flashing caution: the Relative Strength Index (RSI) at 71.48 and Stochastic Oscillator at 94.32 both signal overbought conditions, suggesting a short-term pullback is possible.


If the rally persists, SOL could test the next resistance at $159.70, and a breakout from there may target $173.15—an upside of nearly 14%. On the downside, key support lies at $132.80, with deeper support around $119.35, representing a potential 13% retracement. The MACD reading of 1.552 continues to reflect bullish momentum, but traders should remain alert to reversal signs amid overheated indicators.

May 10, 2025 at 2:48 PM