Solana still trades in a tight horizontal range, and $157.27 serves as an important magnet for short-term momentum changes.
A spike above $151.47 is a sign of early bull intent, but resistance at $157.62 is still a major hurdle for long-term upside movements.
Consolidation at the halfway point indicates hesitation, as traders wait for follow-through before verifying Solana's next significant leg.
Solana (SOL) is testing a key technical decision zone after breaking out of a persistent downtrend channel. With the price hovering near $155, momentum now hinges on reclaiming the midpoint resistance or falling back below key support.
SOL Price Structure Hints at Crucial Range Decision
Data artisan Koroush AK maintains a neutral stance on Solana’s price action. The chart displays SOL locked within a horizontal range between $122.71 and $182.49. The midpoint, now at $157.27, stands as the current battleground between demand and supply.
<embed> https://x.com/KoroushAK/status/1932066667057840351 <embed/>
The expert has provided insights suggesting Solana continues to respect this structured range. He outlines the range low at $122.71 as a strong demand zone, showing repeated accumulation since March. This key level supported a sharp reversal in April, validating its role in sustaining bullish reactions.
Meanwhile, the range high of $182.49 has consistently rejected bullish attempts. Wicks into this zone frequently failed to hold, confirming seller control near upper resistance. The midpoint around $157.27 has emerged as a zone of repeated indecision. Solana’s price frequently reacts to this level, drawing in both reversal and continuation trades.
Moreover, there’s the aspect of recent structure showing lower highs forming near the top boundary. That pattern implies waning bullish momentum and deeper hesitation among buyers. The latest candles confirm reduced body size, pointing to tight consolidation and neutral sentiment.
A Breakout Shift Adds Bullish Prospect
Looking at it from another angle reveals how Jeremy’s analysis shifts the tone to cautiously bullish. He notes Solana has broken out of a descending channel that extended from $166.40 to lows around $142.20. This structure displayed a clear downtrend until a breakout near $151.47 shifted short-term momentum.
Source: (X)
The expert highlights resistance near $153.47 and $157.62, where Solana now faces friction after the breakout. If buyers hold above $151.47, this breakout may gain strength toward $162.47 and beyond. His chart also shows RSI climbing to 58, confirming strengthening momentum yet avoiding overbought risk.
A more striking observation is the confluence of Fibonacci resistance with horizontal supply zones. This overlap marks a critical test area, where bulls must overcome selling pressure to continue upward. However, failure here could drive price back into the previous channel, risking another drop toward $146.70.
Final Outlook: Analysts Say Watch the Midpoint Closely
It’s equally important to recognize the shared consensus from both analysts—Solana’s next move hinges on the $157.27 level. The cryptocurrency remains trapped between strong structural levels, with no clear breakout or breakdown confirmed yet. Range trading remains dominant unless price convincingly crosses the midpoint with volume.
Taking this idea to the next level uncovers how Solana still reflects classic range-bound dynamics despite breakout attempts. The bullish undertone from recent price action introduces a hopeful tone, but confirmation is still pending. Market participants must monitor the $151.47 support and the $157.62 resistance for any clear directional cues.
A further upside to consider is the price’s ability to reclaim territory above $157.27, which could drive a retest of $182.49. Yet, there’s more to address before concluding, as current candle structures imply consolidation. For now, analysts remain cautiously bullish, noting that Solana must prove its strength with follow-through above critical breakout zones.
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