Solana Price Dips to $155 Amid Network Strain and Resistance
Solana price stalled near $165 after underperforming in the recent altcoin rally, while Bitcoin, Ethereum, XRP and SUI posted double-digit gains. A Pump.Fun token launch raised $500 million but overloaded Kraken and Bybit, causing network strain and technical failures that diverted liquidity from SOL. On Kraken hourly charts, the SOL/USD pair slid below the 100-hour simple moving average and broke a key bullish trend line. Immediate support stands at $158 and $155; a breach below $155 could push Solana price toward $150 and $145. Upside resistance lies at $160, $162 and $168, with a daily close above $165 needed to target $178. Bearish MACD and an RSI below 50 suggest downward pressure in the near term. Traders are also eyeing Solaxy’s presale, which offers up to 71% staking rewards, as they explore alternative Solana ecosystem projects.
Bearish
Solana price underperformed in the recent altcoin rally, and the Pump.Fun launch stressed the network, diverting liquidity from SOL. The break below the 100-hour SMA and a key bullish trend line on Kraken charts, combined with a bearish MACD and an RSI below 50, indicate near-term downside risk. Immediate support at $158 and $155 is critical; a breach could trigger further declines toward $150 and $145. Without a daily close above $165, bullish reversal targets at $178 and $185 remain unlikely. Overall, these factors point to a bearish short-term outlook, although a recovery is possible if SOL reclaims key resistance levels over the medium term.