Solana Price Surges 4.13% as Bullish Momentum Builds

Solana (SOL) has shown signs of recovery after weeks of stagnant and declining price movements. The latest daily and hourly charts on June 3, 2025, indicate a shifting technical landscape, suggesting a potential significant breakout or a temporary bullish rally.

The 1-hour Heikin Ashi chart reveals a short-term recovery story. After consolidating near the $155 mark for several days, the SOL price broke above multiple moving averages in quick succession. The 20, 50, and 100-hour simple moving averages (SMAs) are positioned between $155.4 and $156.6. The price at the time of writing is $159.99, confirming a clean breakout above the entire MA ribbon. This upward cross of price above the SMA cluster is a bullish signal. The red 200-hour SMA still lingers near $165.20, acting as the next ceiling. If the SOL price clears that with strong volume, a fast move to retest $170 could be expected.

From a Fibonacci retracement perspective, recent price levels suggest a local resistance around $160.50–$161.20, where earlier rejections occurred. The price action has held above these levels in the last few hours, suggesting the bulls may be gaining control.

Zooming out to the 1-day chart provides a clearer view of Solana’s recent correction and potential reversal. After peaking near $188 in early May, the SOL price retraced to a low near $156—coinciding with the 50-day SMA at $157.73, which acted as strong support. Today’s Heikin Ashi candle is green and pushing higher from this SMA bounce zone, confirming the strength of this support. The 100-day SMA sits slightly below at $144.32, further reinforcing the cushion underneath current price action. The 20-day SMA, however, is now resistance at $168.80, aligning with the psychological level of $170.

Let’s do a quick volatility calculation. The bounce from $156 to today’s high of $162.45 represents a 4.13% recovery. If this momentum sustains, a similar move from $160 would project a short-term target of $166.61. This nearly aligns with the 200-day SMA at $179.32. So, we can expect that if the SOL price crosses $168, the path to $179 will be the next test zone, albeit with some resistance around $172.

The current breakout attempt is technically supported, but it remains incomplete until the Solana price breaks the 20-day SMA at $168 with volume. RSI data is likely in neutral territory, given the consolidation phase, suggesting room for upward movement. The 50-day SMA holding as support also strengthens the case for a near-term rally continuation. The SOL price has also avoided revisiting deeper support levels like $144 or the more dangerous $120 zone seen on Fibonacci extensions. That increases the probability that the $156–$158 range marks a local bottom.

If the Solana price maintains price above $160 for the next 24 hours and closes a strong daily candle above $162, the next upside targets would be $166.6 and $170 in the short term, and $179–$180 in the medium term, near the 200-day SMA. However, failure to close above $160 would pull the price back into the congestion zone between $156 and $158. A breakdown below $156 would invalidate the bullish setup and could revisit $144.

Solana price is technically gearing up for a bullish reversal, supported by both hourly momentum and daily SMA structure. If the current breakout sustains above the 50-day SMA and conquers the 20-day resistance, SOL can realistically climb toward $170 and potentially $180 within days. The next 48 hours are critical. Keep an eye on volume, hourly closes above $160, and whether $168 breaks with strength. A breakout above that level could trigger a wave of technical buying and send SOL into a fresh uptrend for June.