Solana (SOL) Price Prediction for May 8: Rebound Faces Resistance at $149

The Solana price climbed toward $146.50 in early trading on May 8, recovering from a short-lived dip below the $144.50 zone. This rebound followed a bullish engulfing candle on the lower timeframes and an intraday push above the 20 and 50 EMAs. However, price action stalled under the $149 resistance — previously a failed breakout zone on May 7. This suggests market hesitation near the upper boundary of the current consolidation range. Solana price analysis (Source: TradingView.) On the daily scale, SOL remains in a mild uptrend supported by the 200 EMA near $140.89. Still, buyers must clear the 23.6% Fibonacci retracement level at $155.43 (from the November 2023 high to the March 2024 low) to confirm a broader bullish continuation. Solana (SOL) Price Update: Indicators Show Mixed Signals on Direction Solana price analysis (Source: TradingView.) Short-term momentum is losing steam as RSI on the 15-minute chart hovers near 40 after peaking above 70 on May 7. Meanwhile, MACD has crossed below its signal line with fading histogram strength, implying weakening bullish pressure. On the 4-hour chart, Solana price action shows rejection from trendline resistance, … The post Solana (SOL) Price Prediction for May 8: Rebound Faces Resistance at $149 appeared first on Coin Edition .

Source: Coin Edition