$SOL As of May 17, 2025, Solana (SOL) is trading at approximately $171.17, reflecting a modest upward movement.

๐Ÿ“Š Technical Outlook

Support Levels: Key support is observed at $161, aligning with the 50-day Simple Moving Average (SMA). A breach below this could lead to a test of the $150 level, which is considered a long-term trendline support.

Resistance Levels: Immediate resistance is noted at $175, followed by a significant resistance zone between $180 and $184. A decisive break above $184 could open the path toward the $200 level.

Chart Patterns: A bullish cup-and-handle pattern was confirmed in mid-April, indicating potential for further upward movement.

๐Ÿ” On-Chain & Derivatives Insights

Exchange Netflows: A trend of net outflows from exchanges suggests accumulation by long-term holders.

Futures Market: Open interest in futures stands at $6.85 billion, with a slight positive funding rate of approximately 0.01%, indicating a moderate long bias.

Unstaking Activity: Over 1.4 million SOL were unstaked recently, which could introduce short-term selling pressure.

๐Ÿš€ Long Trade Strategy

Entry Point: Consider entering a long position if SOL maintains support above $167โ€“$170.

Targets:

First Target: $175

Second Target: $184

Extended Target: $200, contingent on a confirmed breakout above $184 with strong volume.

Stop-Loss: Set a stop-loss below $161 to manage downside risk.

๐Ÿ“… Short-Term Price Predictions

Analysts forecast that SOL could reach up to $176.31 by May 19, 2025, representing a potential 3.38% increase from current levels.

๐Ÿ“ˆ Long-Term Outlook

Looking ahead, projections for SOL by the end of 2025 vary:

Conservative Estimates: Average price around $225.55, with potential highs up to $319.93.

Optimistic Scenarios: Prices reaching between $325 and $400, driven by factors such as the anticipated approval of a Solana ETF and advancements in network scalability.