Solana (SOL) continues to climb steadily after rebounding from its March low of $95.26, now trading at $149.42 with a daily gain of 2.04%. While the broader crypto market takes a breather, SOL is quietly positioning itself for a potential breakout.
The technical outlook on the daily chart remains cautiously optimistic. Price is hovering just below the 7-day moving average (MA) at $149.85, while the 25-day MA comfortably supports the structure at $132.81. Most notably, the 99-day MA sits at $158.92, acting as a long-term resistance zone — exactly where price was rejected after peaking at $157 last week.
Momentum indicators paint a mixed picture. The Stochastic Oscillator is cooling off from overbought levels, indicating a possible sideways phase or light pullback. However, the RSI is still strong at 67, suggesting that bullish interest hasn't faded entirely.
In terms of volume, we observe that buyers remain present, but the intensity has somewhat reduced, implying that the next significant move will require a surge in interest.
Short-Term Outlook:
SOL may consolidate between $145–$153, with a key breakout level near $158.92. If bulls can push past that, $172–$192 opens up as the next major resistance band.
Investor Sentiment:
Still leaning bullish, but traders should keep an eye on the $145 support zone. If held, it strengthens SOL’s setup for a breakout; if lost, a retracement to the mid-$130s is possible.
Remember:
“Patience is key. Solana has the structure to rally — all it needs is the spark.”
