⚡️ Solana (SOL) on the edge: Imminent bounce or more declines?
Today, June 1, 2025, Solana (SOL) is trading around $153.32, following a weekly drop of 11.7%. This decline is attributed, in part, to the reactivation of U.S. tariffs that have shaken global markets.
🔍 My technical analysis:
Key support: $154.85 (previous monthly high from April)
Immediate resistance: $165.94
Indicators:
RSI: Close to 30, indicating possible oversold conditions
50-day EMA: About to cross above the 200-day EMA, forming a "Golden Cross"
This technical pattern suggests a potential bullish trend change if confirmed in the coming days.
🏦 Fundamental outlook:
SOL accumulation: In the last month, more than 4.13 million SOL have been withdrawn from exchanges, valued at over $677 million. This indicates strong accumulation by retail investors and whales, which could limit further declines.
Stablecoin activity: Circle has minted $250 million in USDC on the Solana network, consolidating its position in the stablecoin ecosystem, which now represents 34% of the total volume.
📈 Predictions for June:
According to projections, the price of SOL could fluctuate between $174.94 and $204.30, with an average of $191.11.
💬 Do you think Solana is setting the stage for a significant rally or is it better to wait for stabilization? Are you considering accumulating at these levels or do you prefer to stay on the sidelines?
(All information was obtained from reliable sources)
