Solana (SOL) has started the week strong, showing clear signs of recovery after a challenging period in late May. According to the latest daily and hourly charts on TradingView, SOL price is currently facing a critical resistance level. Moving averages are converging, and momentum appears increasingly bullish—traders are closely watching whether SOL can break through the $170–$180 range.
Is Solana Poised for a Short-Term Rally?
SOL/USD 1-Hour Chart - TradingView
The hourly chart reveals a bullish crossover on the MA Ribbon. SOL price currently trades above the 20-, 50-, 100-, and 200-day moving averages, with the 200-day SMA hovering near $153.51. At $158.75, SOL remains above the entire ribbon—a sign of short-term strength.
Heikin Ashi candles remain green but display smaller bodies and longer upper wicks, suggesting momentum may be plateauing. As long as SOL holds above the $153–$155 support zone, the structure stays bullish. Fibonacci levels indicate short-term targets at $165 and $172. Based on the $150–$158 range, the 1.618 Fibonacci extension points to $171.65—a feasible target if buying pressure increases.
Daily Chart: Is a Bigger Breakout Ahead?
SOL/USD 1-Day Chart - TradingView
The daily chart reveals deeper structure. After retreating from May’s high of $188, SOL found support at the 100-day SMA ($144.82), aligning with Fibonacci levels. The rebound pushed SOL to $159.88, marking a +2.28% daily gain.
Now, SOL aims to flip the 20-day SMA ($160.29) and 50-day SMA ($162.77) into support. This cluster forms a critical zone between $160–$163. A daily close above this range could attract new buyers, with the next target at the 200-day SMA ($176.33).
Quick Projection:
If SOL gains $5/day (as in the past 24 hours) and breaches $163 resistance by midweek:
$159.88 + ($5 × 3 days) = $174.88 by Thursday—testing the 200-day SMA and potentially triggering FOMO among swing traders.
Key Support and Resistance Levels
- Resistance: $160–$163 (SMAs converge; recent rejection). A breakout opens the path to $170, then $176.
- Support: Strong base at $144. A drop below $152 (100-hour SMA) could revive bearish pressure toward $140–$145. The long-term bullish thesis holds if $140 support remains intact.
Can SOL Surpass $170 This Week?
It’s possible. The hourly chart shows short-term bullish potential, while the daily chart hints at a larger breakout—if price sustains above SMA clusters. The convergence of the 20-day and 50-day SMAs even suggests a potential "golden cross," a strong bullish signal.
Given momentum, Fibonacci targets, and moving averages, a climb to $170–$175 is realistic if Bitcoin holds above $100K and market sentiment stays positive.
Conclusion
Solana isn’t just recovering—it’s demonstrating technical strength across timeframes. If buyers defend $155 and convert $160–$163 into support, this could be a breakout week. Traders should watch for volume spikes and 4-hour candlesticks to capitalize on the move.
Targets: $171–$175 if $160 holds; a drop below $153 may revisit $144. Risks remain limited, but the trend favors bulls for now.
$SOL, $Solana
FAQ Section
Q: What’s driving Solana’s current price momentum?
A: Recovery from May’s downturn, bullish technical patterns (e.g., MA crossovers), and positive market sentiment around altcoins.
Q: How reliable is the $170–$175 target?
A: It’s based on Fibonacci extensions and SMA resistance levels. Confirmation requires sustained volume and BTC stability.
Q: Should I buy SOL now?
A: Monitor the $160–$163 zone. A confirmed breakout with rising volume could offer an entry, but always manage risk.
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