Solana (SOL) is exhibiting signs of potential renewed strength as technical indicators suggest a possible breakout in May 2025. The weekly chart reveals that the MACD is curling upward and has recently crossed above the signal line, a bullish signal that often precedes significant price movements. Traders are closely monitoring whether this shift indicates the beginning of a larger rally.
Market analyst Willjayducks highlighted a notable bearish divergence on the Solana weekly chart in a recent post on X. He noted that the RSI and MACD indicators displayed weakening momentum as the price rose to its peak. Following this pattern, Solana experienced a sharp decline, losing approximately 67% of its value in just 84 days.
Willjayducks elaborated that the MACD is now curling upward and has recently crossed above the signal line. According to his analysis, if SOL can maintain its current upward momentum, the MACD line could eventually cross above the zero line, signaling a more definitive bullish trend. He also cautioned that he would be closely monitoring the chart for any emerging signs of bearish divergence should this bullish breakout occur.
Despite these recent bullish signals and technical improvements, Willjayducks cautioned that the current momentum might not be strong enough to sustain a full reversal. He advised vigilance and adaptability, regardless of whether the market rises or falls.
Solana's price is predicted to fluctuate between $158 and $175 in May 2025. A break above $175 could lead to retesting the $183 resistance level, while a break below $158 could see SOL revisit the $148 support zone.
This article is based on our analysis of materials from NewsBTC and CoinDCX.