On June 3, 2025, Solana (SOL) formed an ascending channel pattern on the 1-hour chart. An ascending channel appears when the price moves between two parallel upward-sloping trendlines, often signaling a temporary bullish recovery in a larger downtrend.
However, the setup on this chart shows weakening momentum. SOL trades at $161.36, while the price stays below major resistance at $165 and struggles around the 50-period Exponential Moving Average, which is currently at $158.01. The price is nearing the upper boundary of the ascending channel.
If the price breaks below the lower trendline of the channel, the pattern confirms. Based on the measured height of the previous move and the projected breakdown, the price could fall 11% from the current level. That would bring SOL down to around $143.35, a key horizontal support marked in blue.
Volume data shows no strong bullish accumulation. Sellers may take control if price closes below the lower trendline. The declining highs in the previous move further support the bearish scenario.
As of now, price action suggests a potential breakdown. If confirmed, it could trigger a continuation of the broader downtrend that started late May.
Solana RSI Shows Weakening Momentum Below Overbought Zone
On June 3, 2025, the 14-period Relative Strength Index (RSI) for Solana (SOL/USD) stood at 58.21, while the RSI-based moving average hovered at 62.39. The RSI measures the speed and change of price movements and typically signals momentum strength. Values above 70 indicate overbought conditions, and below 30 signal oversold zones.
Currently, RSI remains below the overbought level of 70, suggesting that Solana does not face immediate upward exhaustion. However, the RSI line is sloping downward and has just crossed below its signal line (the yellow average), hinting at softening bullish momentum.
This bearish crossover follows a strong RSI peak near 75 earlier in the chart, which marked a local top. Since then, RSI has trended lower, forming lower highs, which may align with a weakening uptrend or potential price reversal.
If RSI drops below 50 and stays there, it would confirm a shift in momentum toward sellers, reinforcing the bearish signal from the ascending channel on the main chart.
Solana MACD Turns Bearish With Fresh Crossover
On June 3, 2025, the Moving Average Convergence Divergence (MACD) indicator for Solana (SOL/USDT) showed a clear bearish signal. The MACD line (blue) crossed below the signal line (orange), while the histogram flipped to red. These moves typically signal a momentum shift from buyers to sellers.
MACD, calculated from the 12- and 26-period exponential moving averages, helps detect changes in trend strength and direction. In this case, the histogram has turned negative and deepened to –2.83, while the MACD line reads –0.15 and continues to decline.
This crossover follows a brief recovery phase, where the histogram had turned green. However, the momentum faded quickly, and the MACD lines now slope downward. The continued growth of red bars on the histogram reflects increasing selling pressure.
If the MACD continues to widen in negative territory, it would confirm growing downside risk and support the bearish price setup seen on both the RSI and price chart.
