Solana (SOL) finds itself at a pivotal juncture following its recent surge above $150, marking a significant milestone by surpassing 400 billion total transactions. Despite robust on-chain activity, momentum indicators such as the Relative Strength Index (RSI) and the narrowing Exponential Moving Average (EMA) gaps indicate that the upward momentum may have begun to ease. Currently trading near an important support level at $145.59, SOL faces both downside risks and potential upside opportunities.

Solana recently achieved a notable feat by exceeding 400 billion total transactions. This accomplishment coincides with renewed momentum for SOL, which briefly surpassed $150 for the first time since early March before experiencing a moderate retracement. On-chain activity remains robust, with decentralized exchange (DEX) volumes spiking to $21 billion over the last week, representing a 44% increase that solidifies Solana's position at the forefront of blockchain networks.

Since reaching a low of $9.98 on January 1, 2023, SOL has experienced an impressive 1,412% rally, emerging as one of the standout performers of the current cycle. Over the past year, Solana's ecosystem has witnessed exponential growth. Fees generated from pump activities reached over $75 million in the last month, while prominent protocols including Raydium, Meteora, Jupiter, and Jito have consistently produced millions in monthly revenue.

The RSI of Solana has significantly decreased, falling to 50.61 after peaking at 70.52 four days prior. This rapid decline mirrors the deceleration in SOL's price momentum post its climb above $150, suggesting diminishing bullish strength. As a widely utilized momentum indicator, the RSI assesses the speed and intensity of price movements over a specified timeframe. Values above 70 denote overbought conditions, while readings below 30 signify oversold states. A level around 50 generally implies equilibrium, where buying and selling pressures are relatively balanced.

The market stands at a crucial inflection point with Solana's RSI now positioned near 50. Should bullish sentiment strengthen again, the RSI might ascend towards overbought levels, potentially paving the way for further gains. Conversely, a sustained downward trajectory could validate waning momentum, creating room for a broader price correction.

At present, SOL's momentum appears to have paused, with traders keenly monitoring the next decisive movement. Although Solana's EMA lines continue to reflect a bullish configuration, with shorter-term averages remaining above longer-term ones, the gap between these averages has contracted compared to several days ago, reflecting reduced momentum.

Currently, Solana's price oscillates near a critical support level at $145.59, an area under close scrutiny by market participants. A breakdown of this support could lead to a decline toward $133.82, and should selling pressure escalate, a more substantial drop to $123.46 might ensue.

In contrast, if buyers recapture the vigor observed earlier this month, Solana may rebound and test resistance around $157. A definitive breakout beyond this range would likely catalyze a move toward $180, reinstating the bullish trend.

以上内容由悟空财富根据公开信息整理，与本站立场无关，如存在问题请联系我们，本文为数据整理，不对您构成任何投资建议，投资有风险，请谨慎决策。