Solana ($SOL) Technical Analysis for October 6, 2025
Hourly Trend: The Solana hourly chart shows that the price is attempting to stabilize above $230. On the night of October 5th, SOL surged to a local high near $236 before retreating, leaving a small 'double top' pattern on the hourly chart (dropping after touching $235-$236 twice).
Currently, SOL is trading around $232, and the hourly chart has formed a slowly descending channel: the highs are gradually decreasing (from $236 to around $234), while the lows are also slightly moving down (rising from $228 to around $230). This suggests that the short-term upward momentum is slowing down, entering a narrow range of fluctuations.
In terms of indicators, the 1-hour RSI has been fluctuating around 50 without a significant trend, with buying and selling forces briefly balanced. The MACD shows occasional minor golden crosses and death crosses, with red and green bars alternating frequently, indicating a lack of clear direction in price.
It is worth noting that the hourly level is no longer overbought, with the RSI currently just above 50, which provides room for SOL's next move: if new bullish or bearish momentum enters, the RSI has ample room to move up or down.
The trading volume has significantly shrunk to a low level on the hourly chart, and the market sentiment is becoming increasingly cautious.
Overall judgment: SOL may be in a waiting phase for a breakout in the short term: either breaking down below $230 to adjust or breaking above $236 to resume the upward trend.
The key support on the hourly chart is at the $230 level (a round psychological level, also near yesterday's low point), and the key resistance is at $235-$236 (two highs from yesterday). Before breaking these levels, SOL is expected to fluctuate narrowly between $230 and $235.
