Solana (SOL/USD) Price Analysis – May 24, 2025

⏱ Timeframe: 4 hours (4H)

📍 Current Price: $176.87

📉 Last Low: $175.37

📈 Last High: $177.38

📊 Change: +$0.56 (+0.32%)

Overview

Solana (SOL) has been quite volatile over the past few days. After experiencing a sharp surge from early May to around May 11-12, the price has started to enter a consolidation and correction phase. There is a signal of a bounce from the important support level in the $166.17 area (marked as "Upper -> 166.17").

Key Points:

Immediate Resistance: Around $185 (marked with the bright blue horizontal line).

Nearest Support: $166.17 and $160.00 (marked by pink horizontal line).

Previous Breakout Area: Around $166.17 — now turned into strong support (valid confirmation of support).

Short-term Trend Direction: Uptrend since early May, followed by retracement and potential continuation of the uptrend.

Potential Scenarios

🔼 Bullish:

If SOL is able to maintain the position above $170 and breaks through $180 again, the upside target to $185 will open.

Breakout of $185 could open up space above $190 to $200.

🔽 Bearish:

If the price fails to stay above $170 and breaks down below $166.17, then it is likely that the price will test lower support at $160 or even $150.

Conclusion

The SOL/USD price is in a pullback phase after touching strong resistance around $185. The $166.17 level is an important point that currently acts as a major support. If this support holds and buying volume increases, there is potential for a continuation of the uptrend in the short to medium term.

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