As of May 8, 2025, Solana (SOL) is holding steady around $150.12—hovering near a crucial resistance zone that could define its short-term direction.
Technical Picture: Bullish with Caution
Price Zones to Watch: SOL is testing the $150 resistance barrier. A breakout could ignite momentum toward the $155–$160 range. If sellers step in, a retrace to the $140–$145 support area is likely.
Momentum Indicators: The RSI currently sits at 54.8, reflecting a neutral stance—leaving room for upward or downward swings. Meanwhile, the MACD remains positive, hinting at a potential bullish continuation.
Market Vibes: With the Fear & Greed Index at 67, sentiment is tilted toward greed. Historically, this can fuel short-term rallies—but also calls for disciplined risk management.
Trading Takeaway:
A long entry could be on the table if SOL confidently breaks and sustains above $150. However, traders should stay alert. Some projections warn of a pullback to the $140 level in early June, making tight stop-losses and active monitoring essential.
!!! Please remember that all trading involves risk, and it's essential to conduct your own research before making any trading decisions !!!
