Solana Technical Analysis: Market Outlook on July 9, 2025

Technical analysis of Solana on July 9, 2025, exploring key support/resistance and indicators.

As of July 9, 2025, Solana (SOL) is trading around $151.62, oscillating within a price range of $147 to $155. Analyzing the daily timeframe chart, Solana is currently testing a key resistance zone at $155 to $160 after a corrective phase from its high of $163.9. This zone has historically acted as a strong barrier, and a breakout above it could signal a continuation of the bullish trend. Technical analysis indicates that Solana is moving within a short-term descending channel, but signs of forming higher lows suggest weakening selling pressure. The primary support zone lies between $147 and $148, aligning with the 50% Fibonacci retracement level. This level has recently acted as a strong demand area and could prevent further declines if a correction occurs. The RSI indicator on the daily timeframe is around 52, indicating neutral conditions with a slight bullish bias. This suggests the market is neither overbought nor oversold, potentially indicating price consolidation or readiness for an upward move. The MACD indicator is approaching a bullish crossover, which could provide a positive signal for buyers. Trading volume has been relatively low recently, indicating market uncertainty. A significant increase in volume, particularly on a breakout above $155, is necessary to confirm a strong bullish move. If the price stabilizes above this level, the next target could be the $165 to $180 range. From a price pattern perspective, a double bottom pattern has formed on the 4-hour timeframe at the $147 level, suggesting a potential bullish reversal. This pattern is supported by strong demand at this level and increased volume during the price bounce. A breakout above the neckline of this pattern at $155 could target $165. However, risks remain. If Solana fails to break the $155 resistance, a pullback toward the $147 support zone, or even lower to $140, is possible. Fundamental factors, such as Solana’s network activity, rising Total Value Locked (TVL), and ETF-related news, could also influence price action. Traders should employ proper risk management strategies. Overall, Solana’s current outlook is mildly bullish, but traders should closely monitor volume changes and price behavior around the $155 resistance zone.