Will Solana (SOL) Continue to Strengthen at the End of May 2025? Check out the Latest Analysis!

Jakarta, Pintu News – Solana (SOL) recently started an upswing from the $160 zone, showing strong signs of recovery. The price is now consolidating after the bounce and seems to be preparing to continue its rise above the $172 zone. With strong support above $160, Solana (SOL) managed to break several key resistance levels, signaling bullish potential in its movement.

Recent Technical Analysis

After forming a strong base above the $160 support, Solana (SOL) started its rise by breaking the $162 and $165 resistances. This rise was also supported by the break of the bearish trend line on the hourly chart of Solana (SOL) against the US Dollar (USD), indicating a change in momentum. In addition, Solana (SOL) managed to cross the 50% Fib retracement level of its previous decline, which adds evidence to the strength of its uptrend.

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Potential Barriers and Support

Although there is potential for further upside, Solana (SOL) may face strong resistance near $172. If it is unable to break this level, there is a possibility that the price will drop again. Initial support lies in the $168 zone, with the next major support at $165. A break below $165 could push the price towards the $162 zone, and if this trend continues, it may reach $150 support in the short term.

Technical Indicators Used

In terms of indicators, the Moving Average Convergence Divergence (MACD) on the hourly chart shows a deceleration within the bullish zone, which could be an early indication of weakening momentum. Meanwhile, the Relative Strength Index (RSI) is still above the 50 level, signaling that there is still strength on the buyers’ side. Key support and resistance levels to watch are $165 and $162 for support, and $172 and $176 for resistance.

Closing: Conclusions and Expectations

With various favorable technical factors, Solana (SOL) shows potential to continue its uptrend. However, it is important for investors to pay attention to the resistance and support levels that have been identified in anticipation of further price movements. Investment decisions should be based on in-depth analysis and a solid understanding of market dynamics.

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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) Holds Ground, Bulls Aim Fresh Increase. Accessed on May 20, 2025
• Featured Image: Decrypt