Solana (Sol) has exceeded $80 billion in market capitalization, but has surpassed 10% in the last 30 days. Despite recent bounces, its price has fallen below $170 since May 29th. The RSI recovered to 54.51, but failed to exceed 60, showing limited strength.
One is red and thick, and shows strong resistance to the front. Tenkan-Sen crosses over Kijun-Sen, but prices are still in the cloud. The EMA structure remains bearish, with short-term lines below the long-term lines. Solana needs more momentum to break out and confirm the trend reversal.
Solana RSI rebounds but struggles to exceed the 60 threshold
Sol shows early signs of momentum shift, with its relative strength index (RSI) currently at 54.51, a significant increase from 39.26 just three days ago.
Since yesterday, the RSI has been about to exceed 60 levels.
Climbing from the sub-40 level suggests that it will restore buyer interest, but the RSI remains stuck in the neutral zone for now, indicating hesitant among the bulls to fully retrieve control.
RSI is a widely used momentum indicator ranging from 0 to 100. It is designed to measure the speed and change of price movement.
Measurements above 70 usually indicate conditions for overbuying, but below the overselling level of signals below 30. A value of approximately 50 is considered neutral.
Sol’s RSI is currently 54.51, so the market is cautiously bullish, but if it can’t exceed 60, it could potentially rise even further in the short term.
Sol Battles Resistance in Bearish Ichimoku Cloud
Solana Price is testing key areas of resistance defined by Ichimoku Cloud. Prices have recently been pushed into a red cloud from below, indicating an attempt to reverse the general bearish trend.
However, the clouds remain thick and red. That resistance is strong, and broader emotions are not yet bullish.
The main span A (green line) is below the reading span B (red line), confirming that the cloud remains in the bearish alignment.
The Tenkan-Sen (blue line) crosses the Kijun-Sen (Red Line), usually above the early bull signal. Additionally, the price hoveres around these conversion lines, indicating short-term upward momentum.
However, as prices are inside the cloud and future clouds project ongoing resistance, Sol needs a strong breakout on top of the cloud to see bullish inversion.
Until then, trends remain uncertain, and cloud caps act as important hurdles.
Solana collects over $150, but the EMA structure remains bearish
Solana Price has risen nearly 8% over the past four days, destroyed by more than $150, showing new bullish interest.
Despite this rally, the EMA line still reflects a bearish setup, falling below the short-term average than the long-term one. As the current momentum continues, Sol can push high at $163.76 to test resistance.
There could be a breakout opening the door to $169.20, and in a strong, sustained purchase scenario, the price could reach $179.50.
However, this bullish path will depend on the strength of the ongoing uptrends.
If Solana fails to hold above its recent breakout level and loses support for $150.65, the price could return to $141.53.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
