- Solana price continues its recovery from a one-month low, following RSI’s rebound from oversold territory.
- Key upside hurdles stand tall to challenge SOL bulls, $175.00 appears last defense of sellers.
Solana (SOL/USD) posts a four-day winning streak during Monday’s U.S. session, trading over 1.0% higher intraday near $155.00 at the time of writing. The pair extends its recovery from a one-month low, supported by a rebound in the 14-day Relative Strength Index (RSI) from oversold territory.
However, key Exponential Moving Averages (EMAs) and trend line resistances remain in place, posing a challenge to the ongoing bullish momentum.
SOL/USD: Daily chart points to bumpy road for bulls
Solana (SOL/USD) extends its recovery from the 23.6% Fibonacci retracement level of the January–April downtrend, around $142.00. The ongoing four-day winning streak is supported by the 14-day RSI rebounding from oversold territory. However, with the RSI still below the 50.00 mark—currently near 45.00—the momentum needs further confirmation for a sustained move higher.
Key resistance levels lie ahead, including the 200-day EMA at $162.50 and a downward-sloping trend line from January near $175.00. A clear break above $175.00 could open the door to the previous monthly high around $188.00, with further gains eyeing the $200.00 psychological level.
On the downside, immediate support remains at the $142.00 Fibonacci level. If that breaks, the SOL bears may target the key lows from earlier this year—$125.50 from February, $112.00 from March, and $95.30 from April.
SOL/USD: Four-Hour chart portrays nearness to key resistances
Unlike the daily chart, which still offers some room before major resistance levels, the four-hour chart for SOL/USD shows the price approaching key upside hurdles.
A two-week-old descending trend line near $157.00 is the first obstacle for the SOL buyers, followed by the 200-bar EMA at $159.30, both of which could limit short-term gains. Beyond these, the monthly high around $164.00 will be the next key level to challenge Solana bulls, before aligning with the broader resistance zones highlighted on the daily chart.
Alternatively, immediate support for the SOL/USD pair is seen at the 50% Fibonacci retracement of the April–May rally, near $141.90. If that breaks, attention may turn to a two-month-old horizontal support area around $135.30. A sustained move below this level could open the door for a deeper correction, potentially revisiting the early 2025 lows mentioned in the daily outlook.
Overall, while SOL/USD may continue its current rebound toward key resistance levels, further upside will require strong catalysts to maintain buyer confidence.
