TLDR

Solana (SOL) is testing critical resistance at $190 after an 80% rally from April lows
SOL currently trades at $177.30, consolidating below the 200-day moving average at $181
Breaking above $190 could signal a move toward all-time highs according to analysts
Recent decline from $188 shows bearish pressure with support at $170
Technical indicators suggest mixed signals with both bullish structure and short-term weakness

Solana is trading at a pivotal point after weeks of strong price action. The cryptocurrency has gained over 80% from its April lows.

SOL currently trades at $177.30. The price is consolidating just below key resistance levels.

The 200-day moving average sits at $181. This level has been acting as resistance over recent days.

Analyst Jelle highlighted the importance of the $190 level. He stated that “above $190, all bets are off.”

Reclaim the grey box, and new all-time highs are back on the menu for $SOL.

Above $190, all bets are off. pic.twitter.com/onH41thtul

— Jelle (@CryptoJelleNL) May 26, 2025

A successful break above $190 could open the path to new local highs. This move might also signal a return to all-time high levels.

Technical Structure Shows Mixed Signals

The daily chart reveals a tight consolidation phase. SOL formed a potential base after its strong rally.

Moving averages below the current price show bullish alignment. The 34 EMA sits at $162.95 with other moving averages trending upward.

Volume has decreased during the consolidation period. This is typical behavior before potential breakout moves.

Solana Price on CoinGecko

However, recent price action shows some weakness. SOL started a fresh decline from the $188 zone.

The price now trades below $180. It also sits below the 100-hourly moving average.

A bearish trend line has formed with resistance at $176. This adds another layer of resistance for bulls to overcome.

Key Levels Define Next Move

Support levels remain at $172 and $170. The $170 level has been tested multiple times recently.

A break below $170 could send the price toward $165. Further weakness might target the $160 support zone.

On the upside, resistance sits at $176 initially. The main resistance zone extends to $180 and $185.

Breaking above $185 could set up another rally phase. The next target would be $192 followed by $200.

Technical indicators show mixed readings. The hourly MACD is gaining pace in bearish territory.

The RSI sits below the 50 level on hourly timeframes. This suggests short-term momentum favors sellers.

Despite recent weakness, the overall structure remains bullish. The cryptocurrency has outperformed most altcoins during the current cycle.

SOL has maintained key support levels during volatile periods. This resilience positions it well for potential continuation moves.

The broader market context remains important. Bitcoin continues trading near all-time highs, creating uncertainty.

Market participants are watching for Bitcoin’s next directional move. A strong Bitcoin rally could provide tailwind for Solana.

Conversely, Bitcoin weakness might pressure SOL lower. The correlation between major cryptocurrencies remains high.

The coming days appear crucial for Solana’s short-term direction. A break above $190 would confirm bullish continuation.

Failure to reclaim key levels might lead to further consolidation. The $170 support zone becomes critical in that scenario.

The post Solana (SOL) Price: Testing $190 Resistance After 80% Rally from April Lows appeared first on Blockonomi.

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Filed under: Bitcoin - @ May 27, 2025 8:17 am