Solana Faces Resistance at $155 After 2% Gain

Generated by AI AgentCoin World
Friday, Jul 4, 2025 1:16 am ET1min read
SOL
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Solana (SOL) has recently experienced a recovery wave, surging above the $150 mark. However, the cryptocurrency has since cooled, facing resistance at the $155 level. The price of

SOL
is currently trading near $152, just above the 100-hourly simple moving average. A key bullish trend line is forming with support at $151 on the hourly chart of the SOL/USD pair, which could potentially provide a foundation for further gains.

Solana's price initially climbed above the $152 level, entering a short-term positive zone. This upward movement was supported by a rise above the 50% Fib retracement level of the downward move from the $160 swing high to the $144 low. However, bears became active near the $156 resistance, preventing a move above the 76.4% Fib retracement level of the same downward move. As a result, the price has since moved lower, trading below the $154 level.

On the upside, SOL faces resistance near the $155 level, with the next major resistance at $156. A successful close above the $160 resistance zone could set the pace for another steady increase, with the next key resistance at $162. Any further gains might send the price toward the $165 level. However, if SOL fails to rise above the $155 resistance, it could start another decline. Initial support on the downside is near the $150 zone, with the first major support at $146. A break below the $146 level might send the price toward the $142 zone, and if there is a close below the $142 support, the price could decline toward the $136 support in the near term.

Technical indicators suggest that the MACD for SOL/USD is losing pace in the bullish zone, while the RSI for SOL/USD is below the 50 level. Major support levels are at $150 and $146, while major resistance levels are at $155 and $160. The current market conditions indicate that SOL is facing significant resistance at the $155 level, and a break above this level could signal further gains. However, a failure to overcome this resistance could lead to another decline, with support levels at $150 and $146 providing potential buying opportunities.