Key points:
- SOL is trading above short-term EMAs with bullish RSI and MACD signals.
- Resistance lies around the $172.0–174.0 level.
- Strategic moves by Robinhood could bolster long-term use cases.
- Solana’s DeFi and on-chain volume are hitting all-time highs.
The Sol/USD pair surged past the critical $150.0 resistance level to trade at $167.35 as of May 9, 2025, backed by strong technical signals and a string of strategic developments, including Robinhood’s latest crypto integration and expanded fintech applications.
Technical chart: Bullish Indicators Support Uptrend
On the 1-hour chart, Solana price is decisively trading above the 9-period EMA ($167) and the 20-period SMA of the Bollinger Bands ($162.66). Price action is currently aligned with the upper Bollinger Band, a clear sign of sustained buying pressure.
The MACD line (3.22) remains above the signal line (3.14), reflecting positive momentum, while the RSI reads 74.04 — indicating an overbought condition. However, in strong trends, this often suggests momentum continuation rather than reversal.
Additionally, Bullish candlestick formations and consistent higher lows confirm the current market bias.
Price Prediction: Potential Targets and Support Levels
If Solana continues to trade above $164.0, the next resistance levels are at $172.0 and $174.0. A breakout above that range could pave the way for a move toward $180.0
On the downside, immediate support is seen at the $162.0 level, with a stronger support near the $157.98 mark.
Overall, the bullish trend remains intact as long as SOL holds above $160.0 threshold.
Strategic Developments: Robinhood’s Integration and Ecosystem Growth
In addition to technical indicators, market developments support the bullish outlook.
Robinhood has recently expanded its cryptocurrency offerings by adding Solana (SOL) to its U.S. platform, along with other digital assets like Pepe (PEPE), Cardano (ADA), and XRP.
Additionally, Solana recently hit record daily transaction volumes and on-chain activity, driven by rising DeFi engagement and speculative trading on platforms like Jupiter and Tensor — signaling deepening adoption and network traction.
Conclusion
SOL/USD recent breakout above the $167.0 level is not just a product of technical momentum but also a reflection of growing institutional interest, real-world utility, and expanding ecosystem fundamentals.
With strategic integrations from major platforms like Robinhood, alongside record-breaking on-chain activity, SOL appears well-positioned to maintain its upward trajectory — provided broader market conditions remain supportive.
All content provided here is for informational purposes only and does not constitute financial or trading advice. Trading involves risk and may result in financial loss. We strongly recommend consulting a licensed advisor before making any investment decisions.
