As the Altcoin Season begins in May 2025, many traders are wondering if Solana (SOL/USDT) is worth taking a position in their portfolio this week. Based on the latest technical data, fundamental indicators, and market movements, we present you with a quick analysis to help you make an informed decision.
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1. Technical indicators and current prices
Current price: SOL has reached $172.45 as of May 9, 2025, at 11:00 AM UTC, recording an increase of 12.3% in just a few days.
Resistance levels: The first resistance is at $180 (testing it may open the way for a rise towards $221), followed by major resistance at $221.
Support levels: Strong support is around $160, followed by $150 as a critical level for reevaluating positions in case of a correction.
NUPL Indicator: SOL is in the "Hope zone", indicating the possibility of continuing the upward momentum towards the "Optimism zone" if it maintains support levels.
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2. Upcoming technical developments
Firedancer (full release): The full version of the Firedancer client is expected to be shipped this year, significantly enhancing network security and increasing transactions per second (TPS).
Solana Mobile Seeker: The Seeker phone from Solana Mobile is ready for release in 2025, representing a platform for mobile Web3 experience, which may increase demand for SOL as a payment method and transaction fees.
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3. Fundamental factors and institutional movement
Institutional investments: A NASDAQ-listed company purchased 45,733 SOL worth nearly $100 million as part of its strategy to nurture digital assets, which is a strong indicator of institutional confidence in SOL.
New futures contracts: The Brazilian exchange B3 will launch futures contracts on SOL/USDT on June 16, 2025, which may attract additional liquidity and increase price volatility for day trading.
Supply data: On-chain data showed a 5% decrease in circulating supply of SOL over the past two months, indicating increased accumulation by investors and a decline in selling interest.
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4. Practical trading tips
1. Buy at support: Buy orders can be placed within the range of $160–165 with a Stop-Loss below $158 to protect capital.
2. Gradually take profits: Upon reaching the first resistance ($180), secure part of the profits and move the Stop-Loss to the breakeven point.
3. Continuous monitoring: Keep an eye on the announcement of B3 futures contracts and official updates to identify new entry opportunities if liquidity and volatility increase.
4. Diversify risks: Don't focus solely on SOL, allocate a moderate percentage to it within your portfolio, and distribute the rest among other assets to reduce risk.
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Solana combines strong technical developments and increasing institutional support, making it one of the top candidates for this year's Altcoin Season. What do you think? Will you open a buy position on SOL/USDT this week? Share your strategy and predictions in the comments!
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