Solana’s recent attempt to break through the $155 resistance has met with headwinds, causing the cryptocurrency to cool off slightly after a notable recovery. As of today, July 4, 2025, the digital asset hovers near $152, poised at a critical junction as it dances around the 100-hourly simple moving average.
Market Stumbles at Key Resistance
Solana, often touted as the “Ethereum killer,” had shown signs of a robust rebound earlier this week, pushing past the $150 barrier and momentarily basking in bullish optimism. This upward momentum was reminiscent of similar upticks seen in Bitcoin and Ethereum, suggesting a synchronized move across major cryptocurrencies. This trend aligns with recent movements in the market, as detailed in Solana Skyrockets as Bitcoin and Ethereum Grind Higher: Where Do Prices Go Next?. However, the euphoria was short-lived. When SOL approached the $155 resistance, a known sticking point, it faltered.
“The $155 mark is proving to be a formidable barrier,” notes Alex Chan, a crypto analyst at Block Insight. “Breaking through this level could have paved the way to $160 and beyond, but the sellers seem to have dug in their heels.” Indeed, the $156 resistance, which coincides with the 76.4% Fibonacci retracement level from the $160 high to the $144 low, has become a fortress for bears.
Charting the Course: Bullish and Bearish Scenarios
On the technical front, a bullish trend line is visible, providing support around the $151 mark on the SOL/USD hourly chart. Should Solana muster enough momentum to clear the $156 zone, it could ignite another rally, potentially targeting $160 and even $165—a level not seen since early June. However, the road ahead is fraught with challenges.
“The hourly MACD is losing steam in the bullish zone,” Chan adds, suggesting the recent bullish wave might be running out of gas. The RSI, too, resides below 50, indicating a lack of bullish enthusiasm at present. Should the price dip below the crucial $150 support, it could open the floodgates to a deeper retracement, with $146 and $142 being the next significant support levels. A breach of these thresholds might usher in a more pronounced decline, potentially testing the $136 support.
Forward-Looking Implications
As Solana grapples with these technical hurdles, the broader market watches with bated breath. Investors and traders alike are keenly aware that sustained upward momentum hinges on breaking past these resistance levels, but the path forward isn’t set in stone. The market remains on tenterhooks, with the potential for both renewed gains or further declines hanging in the balance. This uncertainty comes as the first Solana ETF is set to hit the market, a development covered in First Solana ETF to Hit the Market This Week; SOL Price Jumps 5%.
“Solana’s journey is a microcosm of the broader crypto landscape,” observes Jamie Liu, a blockchain strategist. “While there’s undeniable potential, the market is still susceptible to volatility and sudden shifts in sentiment.”
In the coming weeks, Solana’s ability to either reclaim its upward trajectory or succumb to bearish pressures will likely influence broader market dynamics. Will the bulls rally once more, or will the bears tighten their grip? As always in the world of crypto, only time will reveal the true direction of this digital currency titan.
Source
This article is based on: Solana (SOL) Cools After Recovery — Resistance Proving Difficult to Crack
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
