Is SOL returning to a bullish trend or adjusting further?

Solana (SOL) has a market capitalization of over 80 billion dollars but has fallen more than 10% in the past 30 days. Although it has bounced back recently, the price has remained below 170 dollars since May 29. The RSI has bounced back to 54.51 but cannot surpass the threshold of 60, indicating that the bullish strength is still limited.

The Ichimoku cloud is still red and thick, signaling strong resistance ahead. The Tenkan-sen line has crossed above the Kijun-sen line, but the price is still within the cloud. The structure of the EMA lines still shows a bearish trend, with the short-term lines below the long-term lines. Therefore, Solana needs stronger momentum to breakout and confirm a trend reversal.

RSI of Solana bounces back but still struggles to break the 60 threshold

SOL is showing initial signs of a shift in momentum, with the RSI currently at 54.51 — a significant increase from 39.26 just three days ago.

Since yesterday, the RSI has attempted to break through the 60 level — a level that often indicates stronger bullish momentum. Although the rise from below 40 shows that buying power is bouncing back, the RSI is currently still stuck in the neutral zone, reflecting the hesitation of the bulls in fully regaining control.

! RSI of SOL | Source: TradingViewThe RSI is a widely used dynamic indicator that ranges from 0 to 100. It is designed to measure the speed and extent of price movements.

Values above 70 often indicate overbought conditions, while values below 30 signal oversold conditions. A level around 50 is considered neutral.

With the RSI of SOL currently at 54.51, the market is cautiously optimistic, but if it cannot break through the 60 level, the short-term bullish momentum may be limited.

SOL faces resistance in the Ichimoku cloud with a bearish trend

The price of Solana is testing an important resistance zone identified through the Ichimoku cloud. Recently, the price has bounced back and pierced into the red cloud from below, indicating an attempt to reverse the current bearish trend.

However, the cloud is still thick and red — signaling that resistance remains strong and the overall market sentiment has not yet shifted to a bullish trend.

Leading Span A (đường blue lá) still below Leading Span B (đường đỏ), confirming the cloud remains in a bearish direction.

! SOL SOL's Ichimoku Cloud | Source: TradingViewThe blue (đường Tenkan-sen line lam) crossed above the đỏ(-colored Kijun-sen line )đường, which is usually an early bullish signal. In addition, the price is currently oscillating around these conversion lines, indicating certain short-term upward momentum.

However, as long as the price remains within the cloud and the future cloud continues to forecast resistance, SOL needs a strong breakout above the cloud to confirm a bullish reversal trend.

Until then, the trend remains unclear and the upper boundary of the cloud will serve as an important barrier.

SOL bullish above 150 dollars, but the EMA structure still shows a bearish trend.

The price of SOL has increased by nearly 8% in the past four days, surpassing the $150 mark and showing that buying pressure is returning.

However, despite this rise, the exponential moving average (EMA) still reflects a bearish structure, with short-term MA lines below long-term ones. If the current momentum is maintained, SOL may continue to rise and test the resistance area at $163.76.

SOL Price Chart | Source: TradingViewBreakout there could open up the opportunity for the price to rise to $169.2, and in a scenario with strong, sustained buying power, the price could even rise as high as $179.5 — which equates to a potential increase of about 16.7% from the current price.

However, this bullish path depends on the strength of the current uptrend.

If Solana cannot maintain above the price level it just broke out from and loses the support level at $150.65, the price may turn around and fall to around $141.53.

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