- Solana must reclaim the $159–$167 zone to confirm trend reversal and target the $180–$200 resistance area for bullish continuation.
- Strong support at $127–$130 and rising volume suggest bullish interest as SOL tests a breakout above a key descending trendline.
- ETF launch speculation and wave projections point to a potential breakout toward $199, $216, and $238 if current momentum holds.
Solana (SOL) is regaining bullish momentum after rebounding sharply from key Fibonacci support between $127 and $130. Currently trading at $150.42, the asset is attempting to flip a descending trendline into support. Daan Crypto Trades notes that SOL must reclaim the 200-day moving averages between $159 and $167 to confirm a trend reversal. These levels remain vital for targeting the $180–$200 resistance zone. Although a bounce has occurred, the short-term trend remains unconfirmed until SOL breaks above these levels with conviction.
Source: Daan Crypto Trades
Key Levels and Technical Structure
SOL recently broke out of a descending trendline, sparking renewed interest from bulls. However, the move still requires confirmation. The price structure remains corrective since early 2025, despite intermittent rallies. The 200-day EMA sits at $159.52, acting as immediate resistance. Beyond that, $167 and $179 serve as resistance levels. Price must decisively breach these zones for continuation toward $187 and $199.
Additionally, Daan emphasizes that the 2021 high of $259 remains a long-term bullish target. However, reclaiming the $180–$200 region must come first. Strong support lies around $130, with historical accumulation observed between $124.53 and $126.10. This zone remains vital for any pullback scenario.
ETF Speculation and Wave Projection
The potential launch of Solana spot ETFs adds a speculative boost to the current trend. While Ethereum’s ETF debut underwhelmed, demand could build over time. This fundamental development may influence medium-term price action if interest picks up.
Moreover, Hardy’s analysis reveals a wave-like pattern forming. It outlines a possible consolidation phase before a breakout toward $199, $216, and $238. These resistance levels align with prior rejection zones and liquidity clusters. Hardy notes that a successful retest of the trendline could catalyze a powerful rally.
Source: Hardy
Consequently, the price must remain above $150 to sustain bullish momentum. Volume has increased during the latest upward moves, further reinforcing buyer strength. Besides, the broader sentiment is improving, which could favor Solana’s rally continuation.
Solana is now at a crossroads. Holding above $150 and flipping the trendline into support will shape the coming trend. Reclaiming the $159–$167 region remains critical to unlocking further upside.
