🔍 Solana has recently shown signs of a potential bullish reversal. After consolidating near the $155 mark, SOL broke above multiple moving averages, including the 20, 50, and 100-hour SMAs. This breakout suggests a short-term target of around $166.6, aligning with the 200-day SMA at approximately $179.32.

However, SOL faces resistance in the $160–$165 range. Multiple failed attempts to reclaim this zone have led to renewed weakness, with the price hovering near $154.12. The $150 level is now a critical support zone; a breakdown below this could see SOL testing the $142–$138 range.

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📈 Short-Term Targets (June 3–10, 2025)

Bullish Scenario: If SOL maintains momentum and breaks above $160, the next targets are $166.6 and potentially $170.

Bearish Scenario: Failure to hold above $150 could lead to a decline toward $142–$138.

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📊 Market Sentiment

The Relative Strength Index (RSI) has dropped toward the oversold range, currently at 41.66, indicating bearish sentiment. However, if SOL holds its bullish stance, it could retest its recent high of $177 from May 28. Rising investor optimism might push the value toward $200 for the first time since February 2025. $SOL