- Solana surged to $180 after being included in the U.S. Crypto Reserve, sparking bullish momentum.
- Solana now faces key resistance at $200, with analysts predicting a potential breakout to $223.
Solana’s Explosive Price Jump
Solana (SOL) has captured the crypto spotlight after skyrocketing to $180 overnight. This surge follows news that SOL is part of the U.S. Crypto Reserve, alongside Bitcoin, Ethereum, Cardano, and XRP. The bullish momentum, however, faced an intraday pullback, bringing SOL down to $161.
Will Solana regain strength and push beyond the $200 psychological barrier?
Key Resistance Levels and Technical Indicators
Solana’s price action reflects strong support at $125, where a bullish reversal began. The price surged by 24.47% from $143 to $178, hitting a key resistance near the 50% Fibonacci level at $180.
However, bullish exhaustion caused a sharp 10% retracement, dipping the price to $165. Despite this, key indicators suggest a continuation of the uptrend:
- MACD Bullish Crossover: Signals renewed momentum.
- RSI Rebound: Moves from the oversold zone to neutral, indicating rising buying pressure.
Analyst Predicts Breakout to $213
Crypto analyst Ali Martinez points to a descending channel breakout, hinting at a price surge toward $213. According to Fibonacci levels, Solana’s next target sits at 38.20% at $213.
Currently, the price pullback may act as a retest before another rally. If SOL reclaims $180, the next major resistance is at $223, aligning with the 78.60% Fibonacci level.
Whales Cash Out Amid Price Recovery
While the market anticipates a rally, large investors are taking profits. On-chain data reveals that:
- 3 million SOL ($510M) deposited to Binance from a staking account.
- Another whale transferred 48,647 SOL ($7M) after unstaking within 12 hours.
These profit-taking moves could create temporary selling pressure, but strong demand may absorb it.
Can Solana Break $223?
If Solana sustains momentum and breaks past $180, bulls will aim for $200 and $213. A breakout at $213 could send SOL toward $223.
On the downside, $150 remains a crucial support level. A break below this could weaken bullish confidence.
Solana’s next move depends on whether buyers can overcome resistance and push the price to new highs. Will SOL reach $223 soon? The coming days will be crucial!
