Image:https://www.gate.com/trade/SOL_USDT

SOL today’s market overview

According to Gate data, as of 09:00 on May 21, 2025 (UTC), the latest price of SOL/USDT is 168.06 USDT, with a 24-hour increase of +0.22%. The highest price within the day was 173.11 USDT, and the lowest price was 164.53 USDT. The trading volume is 487,330 SOL, corresponding to an approximate trading volume of 82.05 million USDT.

From the chart, SOL has recently shown a pattern of obvious high-level retracement followed by consolidation, currently hovering around $168.

Technical Analysis

1. Moving Average (MA) System

• MA5: 168.26 USDT
• MA10: 168.31 USDT
• MA30: 167.59 USDT
• MA60: 166.88 USDT

Short-term MA5 and MA10 are close to flat, and the price is between multiple moving averages, indicating that the market is in a consolidation phase, and the trend direction is not yet clear. MA30 and MA60 provide medium-term support areas. If the price falls below MA60 (166.88 USDT), it may open up downside space.

2. Volume
In the recent few 15-minute K-line charts, the trading volume has slightly declined, reflecting a wait-and-see attitude of both buyers and sellers. The frequency of bulk trading is relatively low, the market activity is decreasing, indicating that the consolidation phase may still be maintained in the short term.

Order Book Structure Observation

From the order book, the current buying and selling orders appear to be relatively balanced.

• Buy orders (below 168.05): The largest buy order is 491.873 SOL (82,660 USDT)
• Sell Order (above 168.06): The largest sell order is 591.890 SOL (99,500 USDT)

The buying orders are mainly concentrated around 168.00, 167.98, and 167.97, indicating that 168 USDT is the current key psychological support level. If this level is effectively broken, it may trigger further probing to $166 or even lower.

The resistance above is relatively scattered, with a significant number of cumulative orders in the range of 168.13 - 168.15, forming a small pressure zone in the short term. If there is a breakthrough in this area with significant volume, it is expected to challenge the intraday high of 173.11 USDT.

Short-term Outlook

Currently, the SOL price is in a relatively narrow range, with balanced forces between long and short positions:

• If it breaks through 168.50 USDT in the future, it may rebound to the 171-173 range in the short term;
• If it falls below 166.80 USDT, it may retest the previous low support level at 164.50 or even 160 USDT;
• MACD and KDJ and other oscillators still need further confirmation of the direction. Investors are advised to closely monitor changes in trading volume and the breakthrough of key support/resistance levels.

Conclusion: Strategy Suggestions

The current SOL market is still dominated by consolidation in the short term, suitable for range trading.

• Short-term traders can go long lightly in the range of 166.8-168, with a target of 171;
• If the price falls below MA60 and volume increases, you should stop loss in time to guard against further callback risks;
• Long-term investors can pay attention to the project’s fundamentals and the development dynamics of the ecosystem, and phased layout is still a relatively stable strategy.