Will SOL Break Above $155 or Stall Below Resistance?
The post Will SOL Break Above $155 or Stall Below Resistance? appeared on BitcoinEthereumNews.com. Solana (SOL) begins May 2025 trading near the $150 mark, having staged an impressive recovery from April’s lows around $115. The asset is now approaching a critical resistance zone between $153 and $155, defined by a descending trendline that has capped upward momentum since February. This setup places Solana at a technical inflection point, with either a breakout or rejection likely to dictate its direction in the weeks ahead. Weekly Chart: Midpoint Congestion Signals Potential Breakout Solana price dynamics (Source: TradingView.) Solana’s weekly price action reveals a climb back toward the 0.5 Fibonacci retracement level at $145.19, measured from the cycle low of $17.40 to the all-time high of $272.99. This region between $145 and $150 has historically functioned as a congestion zone, often serving as a launchpad or stalling point. If SOL sustains a close above this band, it opens up a move toward the 0.382 Fibonacci level at $175.35, followed by the 0.236 level at $212.67. However, failure to hold above $145 could expose the asset to downside risk, with the 0.618 level at $115 re-emerging as the next support, consistent with April’s low. Solana price dynamics (Source: TradingView.) On the daily timeframe, SOL is visibly encountering resistance from a descending trendline that originated from February’s highs. The $153–$155 zone is particularly significant, acting as both horizontal resistance and the trendline test. A confirmed breakout above $155 would invalidate the bearish trend structure and potentially accelerate momentum toward the $175 region. Until that happens, short-term support levels remain at $138, $126, and the major base at $115. Notably, the chart is beginning to show a shift from lower highs to higher lows, suggesting a possible bullish structure in formation. 4-hour Chart: Pennant Formation Hints at Volatility Breakout Solana price dynamics (Source: TradingView.) Solana’s 4-hour chart depicts a narrowing…
The post Will SOL Break Above $155 or Stall Below Resistance? appeared on BitcoinEthereumNews.com.
Solana (SOL) begins May 2025 trading near the $150 mark, having staged an impressive recovery from April’s lows around $115. The asset is now approaching a critical resistance zone between $153 and $155, defined by a descending trendline that has capped upward momentum since February. This setup places Solana at a technical inflection point, with either a breakout or rejection likely to dictate its direction in the weeks ahead. Weekly Chart: Midpoint Congestion Signals Potential Breakout Solana price dynamics (Source: TradingView.) Solana’s weekly price action reveals a climb back toward the 0.5 Fibonacci retracement level at $145.19, measured from the cycle low of $17.40 to the all-time high of $272.99. This region between $145 and $150 has historically functioned as a congestion zone, often serving as a launchpad or stalling point. If SOL sustains a close above this band, it opens up a move toward the 0.382 Fibonacci level at $175.35, followed by the 0.236 level at $212.67. However, failure to hold above $145 could expose the asset to downside risk, with the 0.618 level at $115 re-emerging as the next support, consistent with April’s low. Solana price dynamics (Source: TradingView.) On the daily timeframe, SOL is visibly encountering resistance from a descending trendline that originated from February’s highs. The $153–$155 zone is particularly significant, acting as both horizontal resistance and the trendline test. A confirmed breakout above $155 would invalidate the bearish trend structure and potentially accelerate momentum toward the $175 region. Until that happens, short-term support levels remain at $138, $126, and the major base at $115. Notably, the chart is beginning to show a shift from lower highs to higher lows, suggesting a possible bullish structure in formation. 4-hour Chart: Pennant Formation Hints at Volatility Breakout Solana price dynamics (Source: TradingView.) Solana’s 4-hour chart depicts a narrowing…
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