Solana (SOL) Technical Analysis on July 10, 2025: Market Outlook

Technical analysis of Solana on July 10, 2025, covering resistance, support, and indicators.

As of July 10, 2025, Solana (SOL) is trading at approximately $147.84, in a short-term consolidation phase with long-term bullish signs visible. This technical analysis examines the current market state, key resistance and support zones, and major indicators. Price Trend and Market Structure Analysis After peaking at $190 in February 2025, Solana entered a consolidation phase, fluctuating between $146 and $154.20. This price action suggests accumulation for the next major move. Daily and 4-hour charts show bullish patterns, such as a double bottom, indicating buyer support. However, resistance at $153.80–$154.20, aligning with the 200-day moving average, has capped further upside. Resistance and Support Zones The key resistance zone is around $153.80–$154.20, which has rejected the price multiple times. A high-volume breakout above this level could target $165, consistent with previous highs. On the support side, $146 has acted as a strong demand zone, with $132 as the next critical support. These levels could prevent further declines if the price pulls back. Technical Indicators The RSI on the daily timeframe is at 45, indicating a neutral state. This suggests the market is balanced, with room for upward or downward movement. The MACD shows declining bullish momentum but has not yet turned negative. Recent declining trading volume indicates trader caution. The 50-day moving average at around $150 acts as a key dynamic level. Price Pattern Analysis Solana’s daily chart shows an ascending triangle, with the price approaching the upper resistance line. A high-volume breakout could trigger a new bullish wave. From an Elliott Wave perspective, Solana may be in the fourth corrective wave, preparing for a fifth bullish wave. A cup-and-handle pattern is also forming on the weekly timeframe, signaling long-term bullish potential. Risks and Scenarios Bullish Scenario: If Solana holds the $146 support and breaks the $154.20 resistance, it could target $165 and potentially $190 by the end of summer 2025. Bearish Scenario: A break below $146 could lead to a drop to $132 or even $126, signaling a deeper correction. Conclusion Solana is currently in a short-term consolidation phase but shows long-term bullish potential. Traders should monitor volume and price action at the key $154.20 and $146 levels. Breaking the $154.20 resistance could spark a new bullish wave, while holding the $146 support is crucial for the bullish outlook.