Solana (SOL) at a Crossroads: Can It Break Through and Turn Bullish? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	96,786,845,524	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.510	-0.25%	206.41	206.41	206.42

High Price	Low Price	Open Price	Prev. Close	52 Week Range
209.47	203.01	206.41	206.92	93.04 - 295.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:03:13	0.013734	206.45	USD

Price x Volume	Volume	Base Symbol	Related Pairs
76,381,322.79	370,596.11	SOL	SOLEUR	SOLGBP	SOLBTC

Solana (SOL) at a Crossroads: Can It Break Through and Turn Bullish?

05/02/2025 5:08am

NEWSBTC

Solana started a fresh decline from the $220 zone. SOL price is consolidating and might face resistance near the $215 and $220 levels. SOL price started a fresh decline below the $215 and $212 levels against the US Dollar. The price is now trading below $212 and the 100-hourly simple moving average. There is a short-term declining channel or a bullish flag forming with resistance at $213 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $220 zone. Solana Price Faces Resistance Solana price struggled to clear the $250 resistance and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $220 and $200 support levels. It even dived below the $180 level. The recent low was formed at $175 before the price climbed and tested the $220 resistance. A high was formed at $220 and the price is now consolidating. There was a drop below the 23.6% Fib retracement level of the upward move from the $175 swing low to the $220 high. Solana is now trading below $220 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $212 level. There is also a short-term declining channel or a bullish flag forming with resistance at $213 on the hourly chart of the SOL/USD pair. The next major resistance is near the $215 level. The main resistance could be $220. A successful close above the $220 resistance zone could set the pace for another steady increase. The next key resistance is $232. Any more gains might send the price toward the $250 level. Another Decline in SOL? If SOL fails to rise above the $215 resistance, it could start another decline. Initial support on the downside is near the $202 zone. The first major support is near the $198 level or the 50% Fib retracement level of the upward move from the $175 swing low to the $220 high. A break below the $198 level might send the price toward the $192 zone. If there is a close below the $192 support, the price could decline toward the $175 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $202 and $198. Major Resistance Levels – $215 and $220.

1 Year Solana Chart

1 Year Solana Chart

1 Month Solana Chart

1 Month Solana Chart

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