Solana Surges 2.3% to $153.08, Ending Bearish Trend

On April 28, 2025, the price of Solana surged past $150, marking a significant shift in momentum and ending its recent bearish trend. This surge has boosted investor confidence and positioned Solana for a potential move higher. Traders and investors are now speculating whether Solana could reach a new high of $170.

On April 27, 2025, Solana's trading day exhibited strong bullish sentiment. The day began with a brief rise, but at 00:10 UTC, Solana encountered an RSI Overbought condition, indicating a possible trend reversal. At 00:25 UTC, Solana resisted at $150 and began to decline. A Death Cross on MACD at 01:10 UTC confirmed this downtrend. However, at 01:35 UTC, Solana encountered an RSI Oversold condition, signaling a potential uptrend. As expected, at 02:05 UTC, Solana found support at $145 and began to rise. A Golden Cross on MACD at 02:40 UTC reaffirmed this uptrend.

Later in the day, at 04:15 UTC, Solana's price movement resisted at $147 and began to fall. At 05:30 UTC, Solana attempted to break the support at $145, which led to a fake out, bouncing back and experiencing an uptrend. At 08:20 UTC, Solana broke the resistance at $147, breached a breakout, and reached $148. At 09:50 UTC, Solana resisted at $148 and began to decline. At 12:35 UTC, Solana found support at $147.38 and began to move in an upward channel. A Golden Cross on MACD at 13:10 UTC affirmed this uptrend. However, at 18:40 UTC, Solana encountered an RSI Overbought situation, indicating a potential downtrend. As expected, at 18:45 UTC, Solana resisted at $150, began to experience a sharp fall, and closed at $147.81. A Death Cross on MACD at 19:15 UTC confirmed this downtrend.

On April 28, 2025, Solana's trading day started with a sharp decline, demonstrating a strong bearish sentiment. During the early trading session, Solana began with a brief fall. But at 00:20 UTC, Solana found support at $147.38 and began to experience a short-term rise. Conversely, at 00:40 UTC, Solana resisted at $147.95, began to fall, broke the support at $147.38, breached a breakout, and dropped to $144.77. At 01:35 UTC, Solana encountered an RSI Oversold zone, indicating a potential trend reversal. As expected, Solana found support at $144.77 and began to experience an uptrend. A Golden Cross on MACD at 02:10 UTC asserted this uptrend.

Subsequently, at 06:40 UTC, Solana broke the resistance at $150, breached a breakout, and reached $153.08. Later, at 10:35 UTC, Solana encountered an RSI Overbought condition, indicating a possible downtrend. Likely, at 10:40 UTC, a pin bar, followed by a full-body red candle, signaled a downtrend. As expected, Solana resisted at 153.08, experiencing a downtrend.

In today’s price analysis, the SOL price is projected to undergo a notable action. In a possible case, if Solana continues its downtrend, it could be pulled back and experience a sharp decline in price. If it finds a strong support level and attempts to move up, it could break the key resistance and increase the possibility of reaching a new high of $170. To know its next move, stay alert and watch out for its key resistance and support levels.