Solana (SOL) Price Prediction for May 20

The Solana price today is hovering around $161.90, down nearly 7% over the past 24 hours, after slipping below the crucial $170 support. This marks a sharp bearish reversal from last week’s high near $184. The latest Solana price action reflects increased volatility and selling pressure after multiple failed attempts to sustain above the $175 resistance zone. The rejection around the upper Bollinger Band and the confluence of the descending trendline has accelerated the downside. Solana price dynamics (April 2025 – May 2025) Source: TradingView) From a broader perspective, the Solana price update shows that SOL has broken below both the 50-EMA and mid-Bollinger Band on the 4-hour chart. This confirms a short-term bearish tilt. The recent drop also puts the asset below the 0.382 Fibonacci retracement level from the $295 high to the $95 low, which was around $171.05. This now flips into a resistance zone ahead of Monday’s session. Why Solana Price Going Down Today? Solana price dynamics (April 2025 – May 2025) Source: TradingView) The sharp retracement in the Solana price appears largely technical, triggered by overbought conditions earlier this week. On t… The post Solana (SOL) Price Prediction for May 20 appeared first on Coin Edition .

Source: Coin Edition