After a volatile start to the week, Solana price today is trading near $174, recovering steadily from its recent dip to $166. The sharp bounce has sparked optimism among bulls, but key resistance at $177 remains a hurdle. With indicators sending mixed signals and broader market sentiment still shaky, traders are closely watching whether Solana can sustain its recovery or fall back into the consolidation range.
What’s Happening With Solana’s Price?
Solana price surged in early May, reaching as high as $181 before cooling off. The correction saw prices slide to $166 on May 12, aligning with a key support cluster just above the 50 EMA. This dip attracted buyers, leading to a rebound that is now testing the descending trendline once again.
On the 4-hour chart, Solana price action shows a clear structure of higher lows forming above the $170.5 support. The recovery aligns with renewed buying activity near the lower Bollinger Band and a bullish reaction from the Ichimoku cloud base. However, overhead resistance remains strong at $177.58 — a level that has consistently rejected price action over the past three days.
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