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Solana Eyes $165 After Breaking Resistance: June 4, 2025 Price Forecast

Jonathan Carls by Jonathan Carls
June 3, 2025
in Market, News, Price Analysis
Reading Time: 3 mins read
Solana Eyes $165 After Breaking Resistance: June 4, 2025 Price Forecast
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  • Solana breaks $160 resistance as volume surges 32%, signaling bullish sentiment
  • Despite gains, RSI and MACD show mixed signals, hinting at short-term caution
  • Sustained $11.63M net outflow raises concerns about long-term investor confidence

Solana (SOL) has exhibited renewed bullish momentum as traders react to a sharp 4.97% gain in the past 24 hours. With its price climbing to $161.52 on June 3, 2025, the asset appears to be recovering from a short-term decline. 

Over the last week, Solana had faced a notable 8.45% drop, retreating from its previous highs. However, increased trading activity and strong intraday performance now hint at a possible short-term rally..

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Rising Volume, Key Breakouts Fuel Momentum

Solana opened the day near $154.17, struggling initially near a known support range between $152 and $154. This level had previously held strong during earlier declines, acting as a base for new upward moves. 

A clear breakout occurred once the price crossed $156, followed by steady gains that pushed SOL above the $160.50 resistance. The asset then marked a new intraday high at $161.5, reflecting growing buyer interest.

Trading volume surged 32.40% to $3.48 billion, underlining the strength behind the move. This sharp increase in volume often signals trader confidence and helps confirm breakouts. 

If this trend holds, a retest of the next psychological resistance near $165 appears likely. Investors should watch for volume continuation and any false breakouts that could reverse the bullish trend.

Indicators Show Mixed Signals Despite Optimism

SOL/USD daily price chart, Source: TradingView

While the price has turned bullish in the short term, some technical indicators offer a more cautious outlook. The RSI currently sits at 47.44, slightly below the neutral 50 level. 

This suggests mild bearish pressure, though not strong enough to signal a reversal. Additionally, the MACD histogram has recently shifted to the negative side, hinting at weakening momentum.

However, a possible signal line crossover may indicate a correction if confirmed in the next few sessions. Despite this, broader market sentiment remains optimistic due to strong support levels and clear breakouts.

Netflow Trends Reveal Underlying Market Sentiment

One concerning trend remains the consistent outflows from Solana wallets. On June 3, SOL saw a net outflow of $11.63 million, reflecting sustained selling pressure. 

Source: Coinglass

From November to March, these outflows have been persistent. Occasionally, inflow spikes in January and March sparked brief rallies, possibly driven by news or institutional activity.

For a sustained rally beyond $165, investors may need to see inflows rise significantly ideally crossing $100 million. Such movements would suggest renewed long-term confidence in SOL and could counterbalance bearish signals in the indicators.

Tags: Price AnalysisSolana (SOL) News

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