Solana Technical Analysis: July 12, 2025

Technical analysis of Solana on July 12, 2025, exploring key support/resistance levels and indicators.

The technical analysis of Solana (SOL) on July 12, 2025, indicates a market with short-term bullish potential but a likelihood of retracement to support levels. Based on market data, Solana’s current price is approximately $153.43, reflecting a 0.65% increase over the past 24 hours. This price is near a key resistance zone around $153.80 to $154.20, which has repeatedly blocked further upward movement. On the 8-hour timeframe, Solana displays a cup and handle pattern, typically a bullish continuation pattern, suggesting buying pressure beneath the resistance level. However, a supply zone around $154.20 could trigger a liquidity grab and lead to a temporary pullback. The Relative Strength Index (RSI) is currently at 64, indicating bullish momentum but not yet in overbought territory (above 70). This suggests room for growth, though traders should monitor for signs of waning momentum. Key support levels are located between $146 and $150, which could act as a price floor during a correction. This zone aligns with a demand zone, making it an attractive entry point for buyers. If Solana breaks the $154.20 resistance with strong trading volume, the next target could be $190, aligning with the 1.618 Fibonacci level. The MACD indicator shows a bullish signal, with the MACD line above the signal line. However, trading volume has slightly declined in recent days, which may indicate weakening buying pressure. Traders should pay attention to Solana-related news, such as increased adoption in the DeFi ecosystem or network developments, as these can impact price. From a price pattern perspective, an ascending triangle pattern is observed on the 4-hour timeframe, which could signal a continuation of the uptrend. Traders should wait for confirmation of a breakout to avoid potential price traps. Risk management using stop-loss orders below key support levels, such as $146, is highly recommended. Overall, Solana appears bullish in the short term, but traders should prepare for a possible pullback to $146. Continuous monitoring of indicators and price levels will aid in better decision-making.