- SOL consolidates in $160-180 range after 50% April-May rally, with $157 support and $162 resistance acting as key price levels.
- Mixed technical indicators show RSI at neutral 51.39 while MACD signals bearish divergence, suggesting market indecision ahead.
- Institutional flows show accumulation patterns with $400M May inflows during consolidation, contrasting recent moderate outflows.
On June 10, at press time, Solana was trading at $159.10, a 1.91% 24-hour gain. Despite this uptick, the asset remains under pressure, declining by 1.18% over the past week and 8.64% in the last month.
SOL’s market cap is at $83.55 billion, supported by a 24-hour trading volume of $3.7 billion, up by 37.13%. The asset’s fully diluted valuation is at $95.94 billion, with a circulating supply of 524.92 million SOL out of a total supply of 602.7 million.
Mixed Signals Suggest a Potential Reversal
From April to late May, SOL posted a strong 50% gain, rising from $120 to just below $180. That rally has since paused, with price stabilizing around the $160–161 range. This level previously acted as resistance during the uptrend and now acts as immediate support.
The RSI, at 51.39, points to neutral momentum. It neither confirms a bullish nor bearish trend. Meanwhile, the MACD indicates a short-term bearish outlook. The histogram is negative, with the MACD line below its signal line.
SOL/USDT 1-day price chart, Source: TradingView
Support is at $157.14, with the next crucial bottom at the $140–145 range, where consolidation took place in April. On the upside, resistance is at $161.822, with a more substantial barrier at $180, the May peak.
Institutional Activity Indicates Accumulation and Distribution
Spot flow data suggests a shifting trend between inflows and outflows. In January, a peak inflow of over $300 million coincided with a rally toward $293.28. Similar patterns followed in March and May, with May’s $400 million inflow notable for occurring during a period of price consolidation.
SOL Spot Inflow/Outflow Chart, Source: Conglass
However, heavy outflows in December 2024 and February 2025 accompanied major corrections. In recent weeks, moderate outflows suggest profit-taking behavior, although the lack of extreme volume changes points to overall market indecision.
Currently, the $160–180 range is acting as a zone of accumulation, supported by neutral momentum indicators and steady flow patterns.
Volume and Market Outlook
SOL’s volume to market cap ratio is at 4.41%, implying active market engagement. Key volume levels are at 150K and 200K SOL and are essential to gauge breakout strength.
A surge above 200K SOL in trading volume, paired with an RSI above 55 and a MACD crossover, could push SOL beyond resistance. However, if volume drops below 150K SOL and RSI falls below 45, the asset could breach support levels, continuing its drop.
On the upside, if resistance at $161.822 breaks and volume exceeds 200,000 SOL, price may rise to $168–172. However, if price dips below $157.145 and RSI falls under 45, it may test $152–155.
Overall, SOL’s short-term outlook depends on key volume levels and flow direction, both of which remain inconclusive. Price remains in a tight range, while institutional behavior and technical position influence the potential next move.
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