As of May 14, 2025, Solana (SOL) is trading at approximately $179.98, marking a 0.06% increase from the previous close. The day's trading has seen SOL reach a high of $184.49 and a low of $166.90.

The recent price movement follows a dip to $166 on May 12, which aligned with a key support level just above the 50-day EMA. This decline attracted buyers, leading to a rebound that is now testing the descending trendline once again. On the 4-hour chart, SOL's price action shows a structure of higher lows forming above the $170.5 support, indicating a potential bullish trend. However, overhead resistance remains strong at $177.58, a level that has consistently rejected price action over the past three days .

In addition to technical factors, institutional interest in Solana is growing. DeFi Development Corp recently acquired an additional 172,670 SOL tokens, bringing its total holdings to 595,988 tokens. This significant accumulation by a major corporate entity provides strong on-chain support for Solana, signaling bullish institutional confidence and potentially impacting short-term and long-term SOL price dynamics .

Looking ahead, if SOL can break above the $177.58 resistance with strong volume, it may signal further bullish momentum. Conversely, failure to do so could lead to a retest of the $170.5 support level. Traders should monitor these key levels closely to gauge the next potential move.