Solana Price Prediction for May 11: Can SOL Break Past $175?

The Solana price today surged over 20%, hitting intraday highs near $176 before cooling off slightly around $172. On the weekly chart, SOL has convincingly reclaimed the 0.5 Fibonacci retracement level at $156, a zone that previously acted as a mid-cycle support. This reclaim now opens the door for a possible retest of the 0.382 Fib level at $189 — the next major resistance barrier in Solana’s recovery arc.

The Solana price action is being driven by a clean bullish breakout on the 4-hour chart, where price broke above a multi-week triangle formation and surged past multiple horizontal resistance zones, notably the $162–$167 band. This marks a strong technical shift as bulls absorb previous selling zones with volume.

Solana price spikes through EMA cluster, but key resistance looms

Momentum indicators on the 4-hour chart remain strongly bullish. The price is trading well above the 20/50/100/200 EMAs, with the shortest EMAs fanning out upward — a classic trend confirmation. The Bollinger Bands are widening, reflecting rising Solana price volatility, and the upper band…

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