Solana (SOL) is Poised to Surge Again, Check Out the Analysis!

Jakarta, Pintu News – Solana has started a new rise above the $175 zone. Currently, SOL is undergoing a correction and is expected to find support in the $172 zone.

Solana Price Increase

Solana (SOL) has formed a base above the $155 support and started a new rise similar to Bitcoin and Ethereum . SOL accelerated its movement past the $160 and $165 resistance levels. However, the bears are still active below the $185 resistance zone. The highest peak was formed at $184.75 and the price corrected. The price dropped below $180 and $178, as well as below the 50% Fibonacci retracement level of the upward move from $166 to $185.

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Downward Correction and Support

Despite the decline, the bulls remain active above the $172 level and the 61.8% Fibonacci retracement level of the upside move from $166 to $185. Currently, Solana (SOL) is trading near $175 and the 100-hour simple moving average. There is also a short-term descending channel pattern or bullish flag with support at $172 on the hourly chart of the SOL/USD pair. If Solana (SOL) fails to break the $180 resistance, there could be another drop. Initial support is located at the $172 zone, and the next major support is at the $170 level.

Upside Potential and Resistance

On the upside, Solana (SOL) faces resistance near the $178 level. The next major resistance is near the $180 level, with key resistance at $185. A successful close above the $185 resistance zone could trigger a steady rise. The next key resistance is $192, and a further rise could send the price towards the $200 level. In case of a break below the $170 level, the price could drop towards the $162 zone. A close below the $162 support could lower the price to the $150 support in the short term.

Technical Indicators

The hourly MACD for SOL/USD lost momentum in the bullish zone. The hourly RSI (Relative Strength Index) for SOL/USD is below the 50 level. The key support levels are $172 and $170, while the key resistance levels are $180 and $185.

Conclusion: Solana’s Future Prospects

With strong support and potential resistance defined, Solana (SOL) may resume its upward trend if it can break key resistance. Investors and market analysts should continue to monitor technical indicators to identify trading opportunities that may arise.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Solana (SOL) Finds Support at $172, What Could Trigger Fresh Increase?. Accessed on May 15, 2025
• Featured Image: DL News