Should Solana maintain support above $165.70, the next bullish targets align with the $184.00 (50% Fibonacci) and $202.40 (61.8% Fibonacci) zones. Conversely, a close below $157.00 could trigger another wave of selling, exposing the $142.75 (23.6% Fibonacci) and $125.80 (multi-month lows) support levels.
Solana consolidates within bullish channel; Fibonacci levels in focusTechnical indicators remain mixed. Bollinger Bands are moving sideways, reflecting market indecision, while the MACD histogram hovers around the zero line with muted volume, and Stochastic is trending higher, hinting at upside momentum. Notably, on the weekly timeframe, SOL/USD is holding above the middle Bollinger Band, which adds weight to the bullish scenario for further upside.
Key Support and Resistance Levels
- Resistance: $184.00, $202.40
- Support: $157.00, $142.75, $125.80
Trading Scenarios
- Bullish Setup: Consider entering long positions from $172.00, targeting $184.00 and $202.40, with a stop loss at $163.00. Recommended time horizon: 5–7 days.
- Bearish Alternative: Short positions may be initiated below $157.00, aiming for $142.75 and $125.80, with a stop at $167.00.
Bottom Line: Solana remains within a consolidation phase, but a breakout above key resistance could accelerate the recovery. Technical signals suggest patience for confirmation, as volatility may increase around the highlighted support and resistance levels.