Technical analysis by ScottMelker about Symbol SOL: Buy recommendation (8/4/2025)

Solana just printed a golden cross on the daily chart, with the 50-day moving average crossing above the 200-day. That’s usually a bullish sign, but here’s the kicker – price is sitting right at the crossover point, which is when these signals actually matter. That said, it is hard to tell if both MAs are support or resistance until the day closes. Instead of running higher, SOL is hovering in no man’s land, stuck between two big levels: resistance around $187 and support near $140. After a nasty pullback from the $200s, price bounced at the moving average cluster, but hasn’t done much since. If bulls step in and push us back toward $170+, the golden cross could play out nicely. But if we drop below $155, it starts to look like just another fakeout. Either way, the next move should be telling.