Solana price steadies near $173 as bulls test key resistance ahead of breakout attempt
Solana price holds near $173 as bulls test resistance and Bollinger Bands widen for next move
Solana price today is holding steady around $173 after a strong rebound from the $166 support zone, signaling persistent buyer interest amid broader crypto market consolidation. The token has faced repeated rejection near the $177 mark, a key resistance that continues to cap upward momentum.
With technical indicators tightening and volatility coiling, traders are watching closely for a breakout or breakdown as market sentiment remains cautious but constructive.
Solana price dynamics (May 2025) Source: TradingView.
Price tests resistance after bounce from key support
Solana’s rally earlier this month followed a rounded bottom breakout above $148, with the price surging to a local high of $181 before encountering profit-taking. A subsequent pullback found solid footing near $166, a level backed by the 50 EMA and the lower Bollinger Band. The recovery brought SOL back to the $173–$175 zone, where it now presses against a descending resistance line that has defined the post-breakout structure.
Technical indicators suggest growing bullish potential. On the 30-minute chart, RSI has climbed to 58.5, while the MACD shows a fresh bullish crossover. Bollinger Bands on the 4-hour chart are expanding, reflecting an uptick in volatility. The price remains above the midline at $173, with the upper band near $178 acting as immediate resistance. A clean break above $177.65 could lead to a retest of $181 and potentially extend to $195.
Volatility builds as key levels tighten
Short-term momentum is supported by the Ichimoku cloud, which continues to offer a bullish structure on the 4-hour timeframe. The Stochastic RSI has rebounded from oversold levels, reinforcing the idea of upward bias. However, failure to break $177.65 may see the price revert to $170.5 or $164.40. The broader trend remains constructive above the 100 EMA at $157, with strong medium-term support near the 200 EMA at $149.
As previously discussed, Solana’s ability to sustain above the $170–$172 range and maintain higher lows suggests underlying strength. Unless price breaks below $157, the medium-term bullish outlook remains valid. A breakout above $177.65 would confirm trend continuation, while repeated rejection at this level may extend consolidation into the coming week.
