Solana Technical Analysis: 2 MAY 2025
Solana’s price is in a short-term downward trend. Source: TradingView
General View
Solana has been posting decent recovery in recent sessions, regaining critical support levels and now consolidating just below a heavy resistance zone. However, bulls are encountering persistent trouble in breaking above the EMA-200 on the 12H chart. Price is currently in a short-term descending channel formation, signalling partial correction.
On The Upside
Solana is continuously struggling at the $150 to $154.50 range. Despite multiple attempts in the last 10 odd days, bulls have failed to show any dominance above this level. Unless this range breaks, any sustainable upside remains unlikely. However, if bulls overwhelm this major hurdle, a move towards $159 and $165 remains on the cards.
On The Downside
The supports between $147 to $145 are important range levels. Additionally, slightly below these supports comes the EMA-50 protection, which is at $140.50, however, is expected to head towards $144-$145’s in the coming hours. This dynamic level is going to be an important pivotal point for recovery or additional downside correction.
EMA-50 is the key protective support level for Solana. Source: TradingView
