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Solana price prediction reveals that SOL is displaying bullish momentum, supported by a recent 9-day and 21-day moving average crossover, as it pushes to break above its descending channel.
Solana Price Data:
- Solana price now – $152.88
- Solana market cap – $83.04 billion
- Solana circulating supply – 519.02 million
- Solana total supply – 600.35 million
- Solana Coinmarketcap ranking – #6
It’s often recommended to get into crypto projects as early as possible, and Solana (SOL) is a prime example of why. Since its all-time low of just $0.5052 on May 11, 2020, SOL has skyrocketed over 31,500%, reaching a high of $161.84 in the past 24 hours. Despite being down about 45% from its all-time high of $294.33 recorded just four months ago, SOL’s long-term growth highlights the massive potential early adopters can tap into when they identify promising blockchain projects early on.
SOL/USD Market
Key Levels:
Resistance levels: $190, $200, $210
Support levels: $115, $105, $95
According to the daily chart, SOL/USD is attempting to break out of a descending channel after successfully pushing above the 9-day and 21-day moving averages. This shift indicates a growing bullish momentum, with recent candles showing increasing buying pressure. The price action is testing the upper boundary of the channel, and if bulls manage to confirm a breakout, the market could see acceleration toward the next upside targets.
Solana Price Prediction: SOL Pushes Toward a Breakout
At present, SOL/USD is trading around the channel’s resistance area, indicating a possible inflection point for the market. If the momentum continues and buyers maintain control, SOL could aim for the resistance levels at 190, 200, and potentially 210. The alignment of the 9-day MA above the 21-day MA further strengthens this bullish outlook, signaling that the upward trend could gain traction as confidence builds among investors.
Solana Price News Today – SOL Elliott Wave Price Technical Analysis, Price Update
On the contrary, if the bullish push fails to hold, Solana may retreat toward support levels near 125, 115, and further down to 100. A failure to stay above the moving averages would weaken the current bullish scenario and possibly trigger renewed selling pressure. However, for now, technical signals lean in favor of the bulls as long as SOL maintains its position above the moving averages and continues to press against channel resistance.
SOL/BTC Shows Signs of Breakout as Bulls Attempt to Reclaim Control
The SOL/BTC daily chart reveals that the pair is hovering just below the upper boundary of a descending channel, following a steady recovery from its lower support region. The current price action sits around 1534 SAT, with both the 9-day (1536 SAT) and 21-day (1568 SAT) moving averages converging tightly, a sign of market indecision. Despite this, the price remains above the lower boundary of the descending structure, suggesting reduced selling pressure and a potential bullish breakout if the upper channel resistance is breached. A decisive close above the 21-day MA could trigger buying interest, pushing SOL/BTC toward the next key resistance level at 1850 SAT.
Conversely, if the bulls fail to sustain momentum and the price drops below the 9-day moving average, SOL/BTC may slide back toward its key support around 1250 SAT. Such a move would indicate renewed bearish control, possibly driving further downside within the channel. Volume remains relatively modest, showing that buyers have yet to fully commit. For now, the technical setup implies a critical inflection point, where a breakout above the channel could reverse the longer-term downtrend, while rejection might reinforce continued consolidation or bearish continuation.
Additionally, @CW8900 shared with followers on X (formerly Twitter) that Solana (SOL) has the potential to climb higher, possibly reaching $270, provided it successfully overcomes the significant sell wall currently positioned at the $180 level.
$SOL can rise further to $270 if it breaks through the sell wall that exists at $180. pic.twitter.com/GZXoL9kYI6
— CW (@CW8900) May 8, 2025
$SOL can rise further to $270 if it breaks through the sell wall that exists at $180.
Solana Alternatives
Solana’s daily chart shows growing bullish momentum as its price climbs above key moving averages and nears the resistance of a descending channel, signaling a potential breakout, especially with the 9-day MA now positioned above the 21-day. While a pullback remains possible if momentum stalls, technical indicators currently favor continued upward movement. Meanwhile, Best Wallet is gaining significant attention with its ongoing presale, having already raised over $12 million. Unlike many other projects, it offers a fully functional wallet app with core features, broad usability, and the ability to purchase major tokens like Solana (SOL) directly within the platform. With tiered presale pricing, early investors benefit from lower entry points, potentially positioning themselves for gains if the token performs strongly post-launch.
Best Presale Right Now
Nevertheless, unlike many speculative launches, Best Wallet has a vested interest in ensuring its token performs well after launch, thanks to its existing revenue streams, potential for token buybacks, and built-in ecosystem designed to boost demand and usability. With the presale offering tokens at progressively higher prices per round, early buyers can secure a strategic advantage. For those looking to invest in a project with both traction and long-term incentives, Best Wallet presents a compelling case.
Related News
- SOL Soars 5% In A Week As This Layer-2 Token Presale Closes On $31M – Best Crypto To Buy Now?
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