Solana price holds below $155 as traders brace for breakout or rejection
SOL trades near $150 with upside capped by descending trendline. $153–$155 remains the breakout zone
Solana (SOL) enters May trading around $150, stabilizing after a sharp rebound from April’s low near $115. The cryptocurrency has added over 30% since its monthly bottom, positioning itself at a crucial technical juncture as it tests multi-month resistance. The $153–$155 band, marked by a descending trendline stretching back to February, has emerged as the decisive pivot for Solana’s short-term trajectory.
On the weekly chart, SOL has climbed back toward the 0.5 Fibonacci retracement at $145.19, drawn from the $17.40 low to the all-time high of $272.99. Historically, this mid-range zone between $145 and $150 has served as both support and resistance, and its breach could determine the strength of continuation. A close above this region may trigger a push toward the $175.35 and $212.67 Fibonacci levels. Conversely, failure to hold above $145 raises the risk of a retracement back to $115, aligning with April’s bottom and the 0.618 retracement level.
Solana price dynamics (March 2025 - May 2025) Source: TradingView.
May 2–3: Inflection zone tightens as breakout probability grows
Shorter timeframes highlight building pressure within a pennant-like structure. The daily and 4-hour charts show rising lows and flat highs, a classical precursor to volatility expansion. SOL currently trades at $150.02, wedged between short-term support around $147 and a heavy resistance ceiling near $155.
With RSI near 53 and MACD marginally bullish, traders are watching closely for a sustained break above $153. However, volume remains subdued, increasing the likelihood of false starts. If SOL fails to clear $153–$155 by May 3, a sideways drift between $147 and $151 may dominate, with $144 and $138 acting as deeper intraday supports.
The technical structure suggests a breakout is more a matter of “when” than “if,” but the catalyst remains elusive. Momentum indicators will need to align with a decisive price close to validate any bullish continuation.
As highlighted in our earlier April outlook, Solana began showing structural strength after reclaiming the $130–$140 region. That early formation now appears to be part of a broader basing pattern, with the current consolidation below $155 setting the stage for potential breakout. Whether SOL confirms upside or stalls depends largely on volume, macro sentiment, and how long it can defend the $147 support in the near term.
