Solana price consolidates near $173 as bulls target breakout above resistance
Solana price consolidates above $170, with key resistance at $175 and support at $167
Solana price today is trading near $173, recovering from earlier lows below $170 following a strong breakout earlier this week. The rally was driven by a classic cup-and-handle pattern on the 4-hour chart, which propelled SOL from $145 to a local high just under $184.
However, the asset has since faced moderate intraday pullbacks, indicating that short-term profit-taking may be underway. Despite this, the broader trend remains intact, and traders are closely monitoring key support and resistance zones for the next move.
Solana price dynamics (May 2025) Source: TradingView.
Consolidation above key support regions
Following the breakout, SOL retraced slightly but is now consolidating above a key support region between $167 and $170, which previously acted as the upper boundary of the descending handle channel. The daily chart also confirms this region as a neckline of a multi-week base formation, now flipped into support. This consolidation zone could prove pivotal in deciding whether the current trend continues or stalls. Immediate support lies at $168 and $165, with deeper retracement targets at $153–$155, which include the 200 EMA and lower Bollinger Band—forming a stronger demand zone.
Technical indicators point to cautious bullish sentiment
On the technical front, the 4-hour Relative Strength Index (RSI) stands at 57.49, recovering from a dip near the midline, suggesting that buying interest is returning, although momentum remains relatively modest. The MACD on the 30-minute chart has recently made a bullish crossover, pointing to improving short-term sentiment, though strength is still building gradually. Meanwhile, the Bollinger Bands on the 4-hour chart have started to contract, signaling that volatility could increase, potentially leading to a breakout if buying volume picks up.
Key resistance levels to watch
On the upside, immediate resistance remains at $175, followed by the $180–$184 zone where the previous rally faced a cap. A clean breakout above this range would likely trigger a move toward $192 and potentially the $200 psychological barrier. However, unless bulls can reclaim momentum with a close above the resistance zone, Solana is likely to stay range-bound between $167 and $175 in the near term. If support at $167 fails, a correction toward $155 may follow, testing deeper support levels.
As previously discussed, the breakout from the bullish continuation pattern earlier this week gave Solana a strong upward push, but the price is now consolidating, making this consolidation phase crucial. A breakout above the $175 resistance could signal a continuation toward higher targets, while a failure to hold support could lead to further downside.
