Solana Price Surges 2.28% as Bullish Momentum Builds

Solana (SOL) has started the week on a strong note, indicating a promising recovery after a tumultuous end to May. The latest daily and hourly TradingView charts suggest that SOL is attempting a breakout while facing overhead resistance. Key moving averages are tightening, and bullish momentum is visible, leading traders to closely monitor whether SOL can extend toward the $170–$180 zone.

The hourly chart shows that SOL is currently trading above the 20, 50, 100, and 200 Simple Moving Averages (SMAs), with the 200 SMA lagging behind at around $153.51. The price is at $158.75, indicating short-term bullish strength. The Heikin Ashi candles are still printing green, but with smaller bodies and longer upper wicks, suggesting a temporary slowdown in momentum. The structure remains bullish unless SOL closes below the $153–$155 support zone. The Fibonacci levels show a near-term target around $165, followed by $172. Using the hourly chart’s base range of $150 to $158, a Fibonacci extension of 1.618 projects $171.65—well within striking distance if buying volume increases.

The daily chart reveals a stronger, more structural development. After falling from May highs near $188, SOL found support at the 100 SMA ($144.82), which aligns with Fibonacci support levels. The recent bounce from that zone has pushed SOL back up to $159.88, with a daily gain of +2.28%. SOL is now attempting to flip the 20-day SMA ($160.29) and 50-day SMA ($162.77) into support. This confluence creates a key battleground zone between $160–$163. A daily close above this range could attract a fresh wave of buyers. If that happens, the next target is the 200 SMA at $176.33.

If Solana price maintains a $5 daily gain and breaks $163 resistance by mid-week, then by Thursday, it could reach $174.88, testing the 200 SMA and possibly triggering FOMO among swing traders. Immediate resistance sits at $160–$163, which includes short-term SMAs and recent price rejection zones. A successful breakout above this area opens up room toward $170 and then $176. Strong support lies near $144. If SOL price breaks below $152, bears could regain control and push the price back to $140–$145. The long-term bullish thesis holds only if $140 remains intact as a base.

There is a decent probability that SOL will break $170 this week. The hourly chart suggests a short-term bullish continuation, while the daily chart shows a larger pattern forming that could lead to a breakout if Solana price holds above the moving average cluster. The 20- and 50-day SMAs converging indicate that a “Golden Cross” setup could be near—a historically bullish signal. Considering the momentum, Fibonacci targets, and moving average dynamics, a move toward $170–$175 is realistic by this weekend if broader crypto sentiment remains positive.

Solana price is not just recovering—it’s showing technical signs of strength across both short-term and mid-term timeframes. If buyers defend $155 and flip $160–$163 into support, we could be looking at a breakout week. Traders should closely monitor volume surges and 4-hour candle confirmations to ride this move. If $160 holds, Solana price can rally to $171–$175 this week. However, a failure to maintain $153 could drag the SOL price back to $144. Risk is manageable, but momentum is clearly shifting toward the bulls.