Solana Stumbles: SOL Crashes Below $170 as Charts Flash Bearish Signals
Solana’s native token SOL just got rejected at a key psychological level—and the technicals suggest more pain ahead. The ’Ethereum killer’ now trades below $170 after failing to hold its 50-day moving average, with RSI dipping into oversold territory.
Traders are watching the $160 support level like hawks. If that goes, we could see a swift drop toward $140—because nothing makes crypto investors panic-sell like a round number breaking. Meanwhile, Bitcoin maximalists are already smugly tweeting ’I told you so’ from their gold-plated moon lambos.
Funny how these ’institutional-grade blockchains’ still move like leveraged meme stocks when the whales start dumping. Maybe those VC unlock schedules matter after all.
Solana Draws Institutional Interest, But Ichimoku Cloud Signals Uncertainty
Institutional accumulation of solana is intensifying in May 2025, signaling strong confidence ahead of a potential altcoin season.
Despite altcoin trading volumes remaining below previous peak levels, major players have been stacking SOL—staking large amounts and adding to long-term holdings.
Over 65% of SOL’s supply is now staked, and Q1 2025 app revenue reached $1.2 billion, the strongest in a year. These trends, combined with positive on-chain flows and ecosystem expansion, position Solana as a frontrunner if altcoin momentum returns.
The Ichimoku Cloud chart for Solana currently reflects market indecision with a slight bearish tilt. Price action is hovering inside the green cloud, suggesting consolidation and a lack of clear direction.
The blue Tenkan-sen (conversion line) sits below the red Kijun-sen (baseline), indicating short-term weakness. The Chikou Span (green lagging line) is tangled in recent price action, reinforcing the neutral-to-bearish bias.
Ahead, the cloud shifts to red and appears flat, pointing to potential resistance and low momentum unless a strong breakout occurs.
SOL BBTrend Stays Negative, Bearish Momentum Holds Below -4
Solana’s BBTrend is currently at -4.31, marking its third consecutive day in negative territory.
Over the past several hours, the indicator has remained stable around -4, suggesting consistent bearish pressure in the short term.
The BBTrend (Bollinger Band Trend) measures the strength and direction of price movement relative to the width of the Bollinger Bands.
Values above 0 typically indicate bullish momentum, while values below 0 signal bearish momentum. A BBTrend at -4.31 reflects strong downward pressure and limited volatility expansion to the upside.
If this trend continues, it may point to further consolidation or even a deeper pullback unless a sharp reversal breaks the pattern.
Death Cross Setup Could Push SOL Back To $141 If $160 Support Fails
Solana’s EMA lines are converging and could soon form a death cross, a bearish technical signal where the short-term EMA crosses below the long-term EMA. If that occurs, SOL price could test the support level at $160.
A breakdown below this level could push the price down to $153.99, and if bearish momentum accelerates, Solana may decline further toward $141.
On the other hand, if Solana regains bullish momentum, the first resistance to watch is at $176.77.
A successful breakout above this level could open the door for a further rally toward the $184.88 zone.
