Solana Holds Strong Above $150

Solana is maintaining its position above the $150 mark as bullish momentum builds in the crypto market. With Bitcoin and Ethereum increasing in value, investor sentiment is on the rise. As altcoins like Solana prepare to follow, the stage is set for a stronger move if current trends persist.

Top analyst Jelle provided a technical analysis indicating that SOL has established a higher low, a critical bullish signal, and is now approaching the range highs. This structure showcases growing strength, with the potential for Solana to retest and surpass key resistance levels, assuming buyer momentum continues.

The $150 level serves as short-term support; as long as SOL remains above it, the bullish outlook stands. A breakout in BTC and ETH could catalyze Solana’s upward movement. With a bullish market and aligning technicals, traders are monitoring for a potential rise in Solana during the ongoing altcoin cycle.

Solana Approaches Resistance As Bulls Regain Momentum

After consolidating under the $160 mark for several days, Solana is displaying renewed strength. SOL is moving toward important resistance below $175, a level that has previously capped price increases several times. This upswing coincides with a bullish crypto market, fueled by upward movements in Bitcoin and Ethereum. Despite optimism, caution is advised as most altcoins, including Solana, remain significantly below their all-time highs.

Jelle pointed out the significant formation of a higher low in Solana’s price structure. This suggests increased buyer confidence and technical strength, with SOL moving towards the top of its range. A breakout above $185 is identified as the critical trigger for reaching new all-time highs.

The immediate trend favors the bulls; however, flipping the $175–$185 resistance zone into support remains a key challenge, as it has historically rebuffed upside movements. Successfully overcoming this resistance with strong volume will be crucial for confirming a further upward trajectory.

Currently, Solana is in a recovery phase. Improved market conditions and signs of accumulation indicate a shift in momentum. A breakout could signify the start of a “Solana season,” whereby SOL becomes a frontrunner among leading altcoins. For now, the $185 mark is crucial—it serves as the threshold between consolidation and a possible explosive rally to new heights.

SOL Price Action Details

Solana is presently trading at $165.80 on the daily chart, showing continued strength after re-establishing the 50-day SMA at $160.99. The price is nearing the 100-day SMA at $175.70, a significant level that has previously rejected several breakout attempts. The recent rally from the $142–$145 support zone signals a higher low, reinforcing a bullish setup for another resistance challenge.

Volume has been rising steadily as prices increase, suggesting growing buyer interest and momentum. The crossover of the 50-day and 100-day SMAs would further confirm the strength of the trend, especially if SOL can maintain its upward trajectory and decisively push above $175.

A breakout above $175 could lead to a retest of the psychological $190–$200 range, which has previously acted as a supply zone. Conversely, failing to surpass the 100-day SMA might see the price retreat towards the $155–$160 support area.