Solana price today is trading near $163.30, marking a 13% surge in the last 24 hours. After spending days consolidating below the $150 resistance, Solana price action confirmed a bullish breakout through a falling wedge on the 4-hour chart, propelling the token to a fresh local high of $164.55. This move not only reclaimed the key 0.5 Fibonacci level at $156.23 on the weekly chart but also brought Solana price volatility back to focus.
What’s Happening with Solana’s Price?
Solana price dynamics (Source: TradingView)
The 30-minute chart reveals a near-parabolic rally supported by a breakout from a tight descending wedge, with price now consolidating near the upper resistance zone around $164. Short-term consolidation here is expected after the sharp impulse.
On the broader structure, weekly Fibonacci retracements show that SOL is now targeting the 0.382 level at $189.01 as the next major resistance. A sustained move above $164–170 could trigger a rally to that level, especially if bulls protect the $155 support region.
Why Solana Price Going Up Today?
Solana price dynamics (Source: TradingView)
Momentum indicators across key timeframes support the ongoing breakout. The 4-hour RSI is above 70, reflecting short-term overbought conditions, but still well within continuation territory given the strength of the rally. Meanwhile, the 30-min RSI is stabilizing just above 60, indicating cooling without any clear bearish divergence.
MACD on the 30-minute chart remains in bullish territory with a slight taper in histogram bars, suggesting slowing momentum but no immediate reversal. On the 4-hour timeframe, the MACD is still strong and confirms continuation bias.
Solana price dynamics (Source: TradingView)
The Solana price update is also backed by strong moving average structure. On the 4-hour chart, the 20/50/100/200 EMAs are stacked bullishly, with the 20 EMA at $153.42 acting as the closest dynamic support. Additionally, the Ichimoku Cloud shows price far above the Kumo, with a bullish Tenkan-Kijun cross and leading span projecting continued upside.
Bollinger Bands have expanded sharply, and price is hugging the upper band near $164.70. This signals that while Solana price spikes have extended, a pause or mild pullback toward $155–158 would be healthy to reset momentum.
Solana Price Forecast for May 10: Consolidation or Climb to $170+?
Solana price dynamics (Source: TradingView)
Heading into May 10, the Solana price forecast hinges on how price reacts around the $164–170 resistance region. If bulls maintain control and reclaim $165 on closing basis, the path opens toward $175 and $189. On the downside, the first major support is at $156–158—a zone that aligns with the 0.5 Fib and the 20-EMA. Failure to hold this region could drag price back toward $148.92, the breakout origin.
Overall, the bias remains bullish unless SOL breaks below $148. Until then, Solana price today suggests continuation, with volatility expansion supporting upward targets.
Solana (SOL) Forecast Table – May 10 Outlook
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