As of June 1, 2025, Solana (SOL) is trading around $152.10, reflecting a recent downturn influenced by broader market volatility and macroeconomic factors, such as renewed tariff concerns.
Key Support and Resistance Levels for June 2025:
Immediate Support: $150 – A critical level that, if breached, could lead to further declines toward $144 or even $127.
Primary Resistance: $161 – A level that SOL needs to reclaim to signal potential bullish momentum.
Secondary Resistance: $178 – A significant barrier; breaking above this could open the path to $188.
Technical Indicators:
Relative Strength Index (RSI): Currently around 41.66, indicating that SOL is approaching oversold territory, which may suggest a potential for a price rebound.
Moving Average Convergence Divergence (MACD): Shows bearish momentum, with the signal line below the MACD line since May 30, 2025.
Market Sentiment and Outlook:
The overall market sentiment for Solana in June appears cautious. While there is potential for a rebound if key resistance levels are breached, the prevailing macroeconomic uncertainties and technical indicators suggest that traders should remain vigilant. Monitoring these support and resistance levels, along with broader market trends, will be crucial for making informed trading decisions.