Solana ($SOL ), June 3, 2025. Short-term analysis (1–3 days) with weekly context.
Solana is currently trading around $160, showing resilience after recent corrections. The price action suggests a potential breakout if key resistance levels are surpassed.
Market Structure and Technical Overview
After a period of consolidation, Solana has rebounded from the $153 support level. The price is now approaching the $165 resistance zone, which has been tested multiple times in recent weeks.
Key levels:
Resistance: $165 – $170
Support: $153 – $150
Indicators:
EMA (50/100/200): The price is above the 50-day EMA, indicating short-term bullish momentum. The 100-day and 200-day EMAs are converging, suggesting a potential trend change.
RSI (D1): Currently at 63, indicating moderate bullish momentum without being overbought.
MACD (H4): Shows a bullish crossover, supporting the possibility of upward movement.
Smart Money Zones and Intentions
The $165 – $170 range has been a significant area of interest, with multiple rejections in the past. A decisive break above this zone could trigger stop-loss orders from short positions, leading to increased buying pressure.
On the downside, the $153 – $150 support zone has held firm, indicating accumulation by larger players. A drop below this level might suggest a shift in market sentiment.
Institutional Flows and Market Context
Network Activity: Solana's ($SOL ) network fundamentals remain robust, characterized by high throughput and low transaction costs. These attributes have contributed to its resilience in the competitive blockchain landscape.
Token Unlocks: Recent token unlocks, including the release of approximately 11.2 million SOL tokens as part of the FTX estate liquidation, have introduced additional supply into the market, potentially exerting downward pressure on prices.
Near-Term Scenarios to Monitor
If Solana ($SOL ) breaks above the $165 – $170 resistance zone with strong volume, it could pave the way for a move towards $180 and potentially $184.
Conversely, if the price fails to break this resistance and falls below the $153 support, it may indicate a bearish trend, with the next support level around $150.
Conclusion
Solana is at a critical juncture. A breakout above $170 could signal a continuation of the bullish trend, while a drop below $153 might suggest a reversal. Monitoring these key levels and market indicators will be essential in the coming days.
