Solana Hovers Near $155 as Key Resistance at $157.27 Looms

Solana (SOL) is currently navigating a critical technical decision zone after breaking out of a persistent downtrend channel. The cryptocurrency is hovering near $155, with momentum now hinging on reclaiming the midpoint resistance at $157.27 or falling back below key support levels.

Data artisan Koroush AK maintains a neutral stance on Solana’s price action, noting that SOL is locked within a horizontal range between $122.71 and $182.49. The midpoint at $157.27 serves as the current battleground between demand and supply. This level has shown repeated accumulation since March, supporting a sharp reversal in April and validating its role in sustaining bullish reactions. However, the range high of $182.49 has consistently rejected bullish attempts, with wicks into this zone frequently failing to hold, confirming seller control near upper resistance.

Recent price structure shows lower highs forming near the top boundary, implying waning bullish momentum and deeper hesitation among buyers. The latest candles confirm reduced body size, pointing to tight consolidation and neutral sentiment. The range low at $122.71 remains a strong demand zone, while the midpoint around $157.27 has emerged as a zone of repeated indecision, drawing in both reversal and continuation trades.

From another perspective, Jeremy’s analysis shifts the tone to cautiously bullish. He notes that Solana has broken out of a descending channel that extended from $166.40 to lows around $142.20. This structure displayed a clear downtrend until a breakout near $151.47 shifted short-term momentum. Resistance near $153.47 and $157.62 now poses a challenge for Solana after the breakout. If buyers hold above $151.47, this breakout may gain strength toward $162.47 and beyond. The RSI climbing to 58 confirms strengthening momentum yet avoids overbought risk.

A more striking observation is the confluence of Fibonacci resistance with horizontal supply zones, marking a critical test area where bulls must overcome selling pressure to continue upward. Failure here could drive the price back into the previous channel, risking another drop toward $146.70. The shared consensus from both analysts is that Solana’s next move hinges on the $157.27 level. The cryptocurrency remains trapped between strong structural levels, with no clear breakout or breakdown confirmed yet. Range trading remains dominant unless the price convincingly crosses the midpoint with volume.

Solana still reflects classic range-bound dynamics despite breakout attempts. The bullish undertone from recent price action introduces a hopeful tone, but confirmation is still pending. Market participants must monitor the $151.47 support and the $157.62 resistance for any clear directional cues. A further upside to consider is the price’s ability to reclaim territory above $157.27, which could drive a retest of $182.49. However, current candle structures imply consolidation. For now, analysts remain cautiously bullish, noting that Solana must prove its strength with follow-through above critical breakout zones.