As of May 22, 2025, Solana (SOL) is trading at approximately $178.49, reflecting a 3.99% increase from the previous close.
๐ Weekly Performance Overview
Over the past week, SOL has experienced notable fluctuations:
May 16: Closed at $168.75
May 17: Slight dip to $167.77
May 18: Rebounded to $165.94
May 19: Increased to $171.54
May 20: Continued rise to $166.71
May 21: Further up to $168.39
May 22: Peaked at $173.97
This upward trend indicates growing investor confidence and market momentum.
๐ Technical Indicators
Relative Strength Index (RSI): Currently at 65.23, suggesting bullish momentum but approaching overbought territory.
Chaikin Money Flow (CMF): Remains above zero, indicating sustained buying pressure.
๐ฎ Weekly Outlook
Given the current momentum and technical indicators:
Bullish Scenario: If the upward trend continues, SOL could test resistance levels around $180โ$190.
Bearish Scenario: Should selling pressure increase, support levels are anticipated around $165โ$170.
Analysts suggest that if SOL maintains its current trajectory, it may approach the $200 mark in the near future.
Cryptocurrency markets are highly volatile, and prices can change rapidly. Always conduct your own research and consider risk management strategies when trading.
