Anticipated Solana (SOL) Valuation as of May 9th

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Read U.TODAY on Google News CoinStats is yet to spot any reversal signals in the market, according to their recent analysis.

SOL/USD

In the last 24 hours, Solana (SOL) has seen a boost of 7.64%.

On the hourly chart, SOL might have formed a local resistance at $174.67. With most of the Average True Range (ATR) passed, sharp moves in the near future seem unlikely.

On a broader timescale, SOL is far away from significant levels. It's essential to pay attention to the current bar's close to gauge its peak, as a long wick could indicate a potential bearish takeover, resulting in a correction towards the $160 range.

Similar price behavior can be noticed in the weekly chart. A close around the present prices may lead to a test of the $200 mark soon.

SOL is trading at $170.13 at the moment of writing.

#Solana Price PredictionAccording to Denys Serhiichuk, if the candle closes with a long wick, bears might gain the upper hand, potentially causing a correction to the $160 range.

Solana Price Forecast for May 8

SOL's Recent Performance

Drastic Recovery: SOL started its upward trend from a low of around $94.8 in April, climbing above $150 by early May 2025[1].
Positive Technical Indicators: The token has breached the 23.6% Fibonacci Retracement level at $142.15 and lies above the 50-day Exponential Moving Average (EMA), indicating sustained bullish momentum[1].

Short-Term Price Projections

Immediate Resistance: The next key target is the 38.2% Fibonacci Retracement level at $171.40, with a break above it signaling further gains[1].
Longer-Term Targets: If momentum continues, analysts predict SOL could reach $180–$190 in the coming weeks[3].
Timeline: Some analysts believe SOL can reach $180–$190 in the following weeks, given its recent push towards the 0.382 retracement zone near $189[3].

Long-Term Outlook for 2025

While short-term forecasts for May are optimistic, some broader outlooks predict SOL could approach $300 by the end of 2025, assuming robust market conditions and sustained investor interest[2].

Technical Patterns and Risks

Bullish Flag Formation: SOL has formed a bullish flag chart pattern, often a sign of impending strong breakouts[1].
Increased Volume: The rally has been accompanied by increased trading volume, demonstrating strong accumulation and a healthy consolidation phase before the next leg up[5].
Potential Reversal: The bullish scenario hinges on SOL maintaining a price above $125. A break below this level could initiate a bearish correction[1].
Market Context: Broader crypto market trends, especially the performance of Bitcoin and Ethereum, could significantly impact SOL's trajectory[5].

Price Levels: Key Perspectives

| Level | Significance | Outlook if Broken ||--------------------|-----------------------------|----------------------------|| $125 | Strong Support | Bearish if broken || $142–$145 | Initial Resistance | Bullish if surpassed || $171–$189 | Next Major Resistance | Signals further upside || $220–$300 | Longer-Term Targets | Possible by end of 2025 |

Analyst Consensus

The latest price analyses by CoinStats and Denys Serhiichuk generally tend to support a bullish trajectory for SOL in the near term, with potential for significant gains if key resistance levels are surpassed and support holds. The next few weeks are seen as critical for determining whether SOL will continue its upward momentum or face a correction[1][3][5].

The price of Bitcoin, a major player in the cryptocurrency market, is currently showing signs of stabilization after a recent fall.
In the realm of finance and technology, various investing platforms and analysts are keeping a close eye on the price prediction for altcoins like Solana (SOL), with SOL's recent performance indicating a bullish trajectory.
As part of their crypto portfolio analysis, CoinStats and some analysts anticipate that Solana might encounter resistance at the 38.2% Fibonacci Retracement level around $171.40, but if this is overcome, a potential rise towards the $180-$190 range could follow.

Anticipated Solana (SOL) Valuation as of May 9th