Solana (SOL) has struggled to maintain upward momentum since peaking near $183 on May 14. Since then, the price action on the 4-hour chart has not provided a clear direction, with the cryptocurrency falling back to the key support area around $166 for a retest.

As of the time of writing, Solana's trading price is approximately $169.43, up slightly by 0.70% for the day, trying to hold this key support level and lay the groundwork for further increases. Interestingly, the technical outlook on the TradingView platform indicates possible paths for Solana in the coming days.

$166 support level is being tested repeatedly. A breakout above $177 or $183 would be bullish.

According to the recent analysis published by TradeCityPro on TradingView, the level of $166.82 is a key short-term pivot for Solana. After a bullish trend starting from $142.25, the asset experienced a false breakout attempt above this resistance level and was quickly blocked at $183.86.

This pullback has caused the price to drop below $177.51 and retest the $166.82 area. Notably, this support level has been tested twice so far and has remained strong. The 4-hour chart shows a strong bullish candlestick forming around $166, indicating robust buying interest at this price level.

Keep in mind that a breakout above the resistance levels of $177.51 or $183.86 would be a push for bullish positions, especially if accompanied by the formation of higher lows and higher highs beforehand.

Before such a breakout occurs, the current pattern remains uncertain. If a successful breakout occurs with rising volume support, a daily close above $177 may lay the foundation for Solana to move towards the $190 to $200 area again.

Short trades below the $166 support level are equally valid.

However, the market trading volume has decreased compared to last week's levels. As of the time of writing, Solana's 24-hour trading volume is $2.3 billion, down 36.15% from the previous 24 hours. Therefore, a new wave of momentum is needed to push Solana past the resistance levels of $177 and $183.

Currently, Solana's price is consolidating tightly above $166. If this level fails to hold, it may retest the deeper support level of $142.25.

If the bears dominate and push down the price, the next important demand area will return to $142.25, which is the starting point of the previous bullish trend. Given the price's reaction to this level on April 30 and May 6, it is expected that if this level is tested again, it will serve as strong support.