- Solana is nearing the crucial $180 resistance, signaling a potential breakout toward $200 and beyond.
- Solana’s recent 4.24% surge, supported by whale accumulation and bullish patterns, hints at a strong recovery.
Solana is making a strong recovery as the crypto market rallies. With a 4.24% price surge, SOL has crossed the $175 mark, signaling a potential breakout.
Investors are watching closely. Will Solana push past the $180 resistance and reclaim the bullish trend?
SOL Nears Key Resistance at $180
Solana has been on a rollercoaster ride. After reaching $260, it dropped nearly 35%, touching the 23.6% Fibonacci level at $159.47.
Now, a Morning Star pattern has formed on the charts. This bullish indicator suggests that SOL may be preparing for a reversal.
Currently, SOL trades at $175.70, facing resistance at the 38.20% Fibonacci level. The crucial $180 zone remains the key hurdle for a breakout.
Technical Indicators Support a Reversal
Technical signals hint at a potential comeback for Solana. The Chaikin Money Flow Index is nearing the zero line, suggesting that buying pressure is increasing.
On the hourly timeframe, moving averages and oscillators are turning bullish. However, the daily chart still shows some selling pressure.
If SOL can sustain its upward momentum, it could push past $180 and set the stage for a rally.
Whale Accumulation Boosts Confidence
Big investors are betting on Solana. A crypto whale recently purchased 174,767 SOL tokens worth $29.87 million.
Even more bullish, the whale staked 174,705 SOL. This move reduces the circulating supply, increasing the chances of a price surge.
Will SOL Reclaim $200 and Beyond?
A breakout above $180 could trigger a rally toward the 61.80% Fibonacci level at $204. If momentum continues, SOL could surpass the $200 psychological barrier.
In a best-case scenario, a V-shaped recovery could propel SOL back to the $260 resistance zone.
However, if Solana fails to hold above $159.47, another correction could push it down to $150.
Solana’s price action is showing strength, but $180 remains the key level to watch. A breakout could ignite a rally toward $200 and beyond.
With whale accumulation and bullish indicators lining up, SOL’s comeback could be just beginning.
