Solana Technical Analysis: Market Trends in 11 of June 2025

Technical analysis of Solana on June 11, 2025, evaluates key support/resistance levels and indicators to forecast market trends.

As of June 11, 2025, Solana (SOL) is trading at approximately $200.59, consolidating after peaking at $220 in March 2025. Solana’s high transaction speed and growing ecosystem of decentralized applications (DeFi and NFTs) make it a key asset in the crypto market. Technical analysis indicates a long-term bullish structure, supported by an ascending channel in monthly timeframes. In the short term, the price is oscillating within a consolidation range between $175 and $211. The key resistance zone lies between $205 and $211, where recent selling pressure has been observed. A breakout above this level could drive the price toward $220 or even $250. Key support levels are found between $170 and $175, aligned with fair value gaps (FVG) in the 4-hour timeframe. This zone has previously acted as strong demand and could prevent further declines. Should this support fail, the next level is around $142. The Relative Strength Index (RSI) on the daily chart is at 45, indicating neutral conditions with a slight oversold bias. Bollinger Bands show price compression, with the current price below the midline (20-day moving average), suggesting bearish pressure. The 50-day and 200-day moving averages (MA50 and MA200) are converging, with MA50 acting as dynamic support around $190. A falling wedge pattern is visible on the daily timeframe, signaling a potential bullish move if the $211 resistance is breached. Declining trading volume in this consolidation range suggests the market is awaiting a catalyst. Traders should monitor for a volume spike to confirm a breakout. In Elliott Wave analysis, Solana may be completing a corrective wave, with the next bullish wave potentially pushing prices toward $420–$800. Developments in the Solana ecosystem and increased adoption could serve as bullish catalysts. However, the crypto market is heavily influenced by external factors like monetary policies and geopolitical news. Overall, Solana may face a short-term correction toward $170, but its medium- to long-term outlook remains bullish. Traders should closely monitor key levels and indicators for precise decision-making.