$SOL /USDT 4-Hour Chart Analysis – 2 May 2025
The 4-hour chart for SOL/USDT on Binance shows Solana trading at $151.12, down 0.79% today. Let’s break down the key insights:
Trend Overview: SOL experienced a strong uptrend from April 19, climbing from $136 to a high of $156 by May 1—a 14.7% increase. Since then, it has pulled back and is consolidating between $148 and $152.
Support and Resistance: The $148 level has acted as a reliable support, tested multiple times. Resistance is seen at $152-$153, with $156 being the next significant hurdle if the price breaks higher.
Current Movement: The price is hovering around $151.12 after a recent dip from $156, indicating a potential consolidation phase before the next directional move.
Volume Analysis
Volume Trends: Volume spiked during the rally from $136 to $156, showing strong buying interest. However, since the pullback, volume has tapered off, suggesting a lack of conviction in the current consolidation. The Volume SMA confirms this, with no significant surges recently.
Short-Term: SOL is down 0.55% today and 7.83% over the past 7 days, reflecting the correction from the $156 high.
Longer-Term: The 30-day performance is strong at +19.49%, and the 1-year gain of 12.81% indicates a broader bullish trend despite the recent dip.
24-Hour Stats: The 24-hour high/low is $153.99/$148.37, a 3.7% range, with a trading volume of 2.71M SOL ($409.29M USD), which is moderate but not indicative of a strong trend shift.
Bullish Scenario: A breakout above $153 with increased volume could signal a continuation of the uptrend, targeting $156 and potentially $160 if momentum builds.
Bearish Scenario: If $148 support fails, SOL could slide to $144 or even $140, where stronger support may come into play.
Key Levels to Watch: Support at $148, resistance at $153-$156.
