Technical analysis of Solana on June 29, 2025, focusing on support/resistance and key indicators.

As of June 29, 2025, Solana (SOL) is in a short-term bullish trend, with technical analysis indicating potential for continued upward movement but possible consolidation at resistance levels. The current price hovers around $150.64, near a key resistance zone between $165 and $173. This zone has historically acted as a price ceiling, and recent price action shows selling pressure at this level, suggesting potential consolidation or a minor pullback. On the four-hour chart, Solana has recently broken out of an ascending triangle pattern and is forming a bullish wave structure, which could signal a continuation of the upward trend. A critical support zone lies around $146, which has previously shown strong demand. If this level breaks, the next support is at $139, aligning with the 0.5 Fibonacci retracement level. The Relative Strength Index (RSI) is currently at 60, indicating bullish momentum but approaching overbought territory, which may suggest a temporary slowdown in upward momentum. The 200-day Moving Average (MA200) at approximately $145 serves as strong dynamic support. Maintaining the price above this level reflects buyer strength, but a break below could increase selling pressure. From a price pattern perspective, Solana is forming a double-bottom structure at the $146 demand zone, which could indicate a bullish reversal. However, given the proximity to the $165–$173 resistance, a consolidation or minor pullback to $150 is possible before the bullish move continues. Fundamental factors, such as renewed applications for Solana ETFs and improving altcoin market sentiment, are also positively impacting SOL’s price. For traders, the optimal strategy is to wait for confirmation of a breakout above the $173 resistance or a pullback to the $146 support. Setting stop-loss orders below $146 for long trades or above $173 for short trades is advisable. Risk management is critical in this volatile market, as Solana is prone to sudden price movements due to its nature and related fundamental news. Overall, the current outlook suggests Solana may test higher resistance levels in the short term, but consolidation around $165–$173 is likely. Holding above the MA200 could indicate continued bullish potential in the mid-term. Traders should closely monitor the market and avoid impulsive decisions.

Market Sentiment

Neutral
65%

Analysis suggests a short-term bullish trend with potential consolidation at resistance levels.

Key Points:

  • Support and Resistance Zones
  • Technical Indicators
  • Solana Market Trend

Frequently Asked Questions

Key resistance zones are around $165–$173, with support levels at $146 and $139.

Current analysis suggests a short-term bullish trend with potential consolidation at resistance.

RSI is at 60, indicating bullish momentum but nearing overbought territory.

Technical factors like price patterns and fundamental factors like ETF news impact price.

Wait for breakout confirmation and use proper risk management with stop-loss orders.