Solana price stalls below key resistance as $161 level remains pivotal for breakout
Solana stalls below resistance, with $161 acting as key breakout trigger
Solana price today is trading near $156.70 as of June 4, posting modest gains but failing to build strong upside momentum after last week’s rejection from the $178 mark. Despite forming a short-term ascending trendline from June 2, the asset remains capped beneath key resistance at $158.90–$160.00, an area reinforced by multiple technical barriers and prior breakdown zones.
Key highlights
- Solana trades near $156.70 with no decisive breakout, as bulls struggle to reclaim the $160.00 zone.
- EMA cluster and Ichimoku Cloud resistance at $158.90–$164.20 continue to reject bullish advances.
- Loss of $154.60 support could trigger a move toward $151.50 or lower, if momentum fails to recover.
With momentum indicators showing indecision, Solana’s price structure appears trapped in a narrow range.
Price range tightens as resistance cluster holds
On the 4-hour chart, Solana faces strong resistance from a confluence of the 20/50/100 EMAs and the lower edge of the Ichimoku Cloud, all concentrated between $159.30 and $164.20. Despite short-term support forming near $154.60, price has struggled to break out above descending trendline resistance from late May. Momentum remains mixed. The RSI is neutral, the MACD is flattening, and the Stoch RSI is already overbought—indicating a likely pause or reversal unless buyers drive a decisive breakout.
SOL price dynamics (Source: TradingView)
Bollinger Bands on the 4-hour timeframe have compressed significantly, warning of an incoming volatility expansion. For bulls to regain control, a strong daily close above $161.00 is required, potentially opening the path toward $164.50 and $168.00.
Wider trend signals warning if $152 support breaks
From a higher timeframe perspective, Solana’s attempt to build support around $152.00–$154.60 is under threat. The daily chart shows the asset testing a former resistance zone now acting as support, while the weekly timeframe outlines a larger risk of downside if $152.00 fails. A breakdown below this level could expose the price to $148.00 or even $137.20, the 0.236 Fibonacci retracement from the broader rally.
In previous coverage, Solana was tracking toward the $178 region but faced sharp rejection. Since then, the price has formed lower highs and is now consolidating just above structural support. The current range-bound behavior reflects buyer hesitation. The focus now shifts to whether bulls can reclaim the $160–$164 area to reignite a broader recovery.
