- Solana (SOL) is showing strong bullish signs, with increasing on-chain activity and a potential breakout above $143, which could push prices toward $150–$160.
- Key technical indicators, including the RSI and OBV, suggest rising buying pressure, but a successful retest of $140 is crucial for sustaining the bullish momentum.
Solana (SOL) is showing serious signs of strength again, as bullish momentum builds and key technical levels come into play. Recently pushing past the $120 mark, SOL has been riding a wave of increased on-chain activity and renewed investor interest, with analysts now eyeing the $150–$160 range as its next potential destination.
Solana Outshines Ethereum in Key Metrics
One of the more bullish developments has been Solana’s growing dominance over Ethereum. The SOL/ETH pair hit new highs recently, and SOL has seen elevated inflows and transaction volumes compared to the Ethereum network. This surge in demand hints at a possible sustained rally — if the momentum continues.
$143: The Critical Breakpoint
Despite recent gains, Solana faces a significant hurdle at the $143 level — the lower high from its 3-month downtrend. Breaking above this mark would officially flip Solana’s daily market structure to bullish and potentially trigger further upside.
The technical indicators are beginning to align. The Relative Strength Index (RSI) has remained above the neutral 50 level for three consecutive days — the longest stretch since January — signaling growing bullish momentum. Meanwhile, the On-Balance Volume (OBV) is testing March highs, when SOL was trading around $180, pointing to increasing buying pressure.
Heatmap Points to $150–$160 as Magnetic Zone
Liquidation heatmaps reinforce the bullish thesis, highlighting $150 and $158 as key zones filled with over $2 billion in liquidations. This “magnetic” liquidity could attract prices upward in the coming days, especially if bulls break through the $143 resistance.
However, caution is still warranted. The $136–$142 zone is packed with liquidity and could act as a battleground between bulls and bears. A clean break and successful retest of $140 as support would be a strong signal that a bullish trend is underway.
Can SOL Ride the Wave?
The key to sustaining this momentum lies not just with Solana, but the broader crypto market. A Bitcoin (BTC) recovery and improving sentiment across the board could give SOL the final push toward $160 — and possibly beyond.
