- Solana price gains upside momentum between three-month-old horizontal support and 200-day EMA.
- SOL/USD chart looks more bullish on shorter timeframes than daily projections, supported by RSI and MACD signals.
- The $188 level acts as the final defense for SOL bears, while buyers can stay hopeful as long as price holds above $150.
Solana (SOL/USD) prints a four-day high, up 2.5% intraday near $161.00, as it rebounds from a three-month-old horizontal support heading into Tuesday’s U.S. session. The move brings SOL/USD to test the 200-day Exponential Moving Average (EMA), while the 14-day Relative Strength Index (RSI) remains below 50.00 and the Moving Average Convergence and Divergence (MACD) indicator continues to flash bearish signals. However, bullish momentum on the four-hour chart and repeated rebounds from key support levels keep SOL buyers hopeful.
SOL/USD: Daily chart struggles to convince buyers
Source: Tradingview
Last week’s clear rejection from a two-month-old bullish channel, combined with bearish MACD signals and an RSI below 50.0, puts pressure on SOL/USD’s latest rebound from the long-standing horizontal support near $150.00–$151.00. The 200-day EMA at $163.00 also acts as a key resistance level, limiting further upside of the SOL prices.
Even if the Solana buyers push above the $163.00 EMA resistance level, they’ll face more hurdles—the channel’s lower boundary around $182.00 and last month’s high near $188.00—before any sustained bullish move can take hold.
On the downside, the SOL/USD pair’s break below $150.00 would likely trigger fresh selling, though March’s high near $147.50 might offer temporary support. If weakness continues below $147.50, further supports await at the late April low near $140.00, March’s low at $112.70, and the psychological $100.00 level. Below that, bears could aim for the yearly low around $95.00.
SOL/USD: Four-hour chart points to recovery momentum
Source: Tradingview
A convergence of the 50-bar and 200-bar EMAs near the $163.00 resistance challenges SOL/USD’s latest rebound. However, a steady bounce from the 38.2% Fibonacci retracement of the April–May rally, along with bullish MACD signals and an RSI above 50.00, suggests potential for a breakout above this EMA confluence.
Such a move could lead SOL to challenge the bearish “Double Top” pattern near the $185.00–$188.00 zone. If cleared, additional resistance levels on the daily chart may attract further buying interest.
On the flip side, a break below the 38.2% Fibonacci level around $152.00 would need confirmation from the $150.00 psychological mark—also highlighted on the daily chart—before sellers gain control.
In summary, SOL/USD’s short-term rebound looks strong and may offer trading opportunities, though the larger reversal of the January–April downtrend remains uncertain.
