Kraken Observes Solana (SOL) Testing Key Support Levels Amid Market Pressure

Solana’s SOL token is facing renewed selling pressure as it retreats from the $180 resistance zone, signaling potential further downside. Currently trading below $170 and its 100-hour moving average, SOL has formed a bearish trendline on hourly charts. Market participants are closely monitoring the $160 support level, especially after SOL underperformed against Bitcoin and Ethereum during this pullback. Technical indicators suggest initial resistance near $169, adding to the cautious sentiment among traders. As of May 30, 2025, the digital asset’s performance remains a focal point for investors navigating the volatile cryptocurrency market.

Solana (SOL) Faces Renewed Selling Pressure as Key Support Levels Tested

Solana’s SOL token has retreated from the $180 resistance zone, signaling potential further downside. The digital asset now trades below $170 and its 100-hour moving average, with a bearish trendline forming on hourly charts. Market participants watch the $160 support level closely after SOL underperformed against Bitcoin and ethereum during this pullback.

Technical indicators show initial resistance NEAR $169, coinciding with the 50% Fibonacci retracement level of the recent decline. A decisive break above the $170-172 zone could signal trend reversal, while failure to hold $160 may accelerate selling pressure. The Kraken exchange data reveals weakening momentum as SOL struggles to regain its footing amid broader market uncertainty.

XRP Price Slips Again — Is a Deeper Correction Underway?

XRP faces renewed selling pressure as it struggles to hold above key support levels. The cryptocurrency failed to sustain momentum after rejecting resistance at $0.3550, mirroring broader market weakness seen in Bitcoin and Ethereum.

Technical indicators show deteriorating conditions, with price action now trapped below both the $0.270 level and the 100-hour moving average. Market participants are watching the $0.2132 low as critical support—a breach could accelerate downward momentum.

The formation of a bearish trend line around $0.270 on Kraken’s XRP/USD charts suggests limited upside potential. Any recovery attempt must first conquer the $0.2440 resistance, which represents the 50% Fibonacci retracement of the recent decline.