Solana Chart Looks Primed: Are Traders Eyeing a $180 Breakout?
Solana (SOL) has shifted gears on the daily chart, transitioning from consolidation to a more aggressive uptrend as bulls reclaim control of market momentum. A string of strong closes—culminating in a push above the $160 level—has emboldened sentiment and put critical resistance levels back in play.
The Relative Strength Index (RSI) has climbed decisively above the neutral zone, signaling that bullish momentum is firmly in control. Momentum continued to strengthen as RSI surged past 70, typically a marker of overbought territory. However, in bullish phases, this often precedes continuation rallies rather than immediate reversals. This suggests there may still be more room for upward movement before bulls lose steam.
Daily chart for SOL/USD (Source: GeckoTerminal)
A deeper look into the MACD reveals further optimism. The indicator has flipped from a bearish divergence to a strong bullish crossover, with the histogram expanding to the upside. This shift indicates a growing gap between short- and long-term momentum, favoring Solana buyers in the current market cycle. With the MACD line now comfortably above its signal, the upward bias looks likely to persist in the near term.
Moving Averages Flash Bullish
Short-term moving averages reinforce this view. The 9-day EMA has moved well above the 20-day EMA, confirming a trend shift. This kind of crossover is often viewed as a strong confirmation signal, especially when supported by rising volume and improving broader market sentiment.
Price-wise, Solana faces a significant test at the $173.54 level. A clean breakout above this zone could open the door to retests of $178.71 and possibly $179.42—levels last seen during previous bullish pushes. These levels are not only psychologically important but also technically significant, as they mark areas of prior rejection.
Also read: How to Buy Solana: A Step-by-Step Guide for Investors
On the downside, support appears strong between $164.90 and $163.15, a range that served as a springboard during recent upward moves. A drop below this zone could invalidate the current bullish structure and shift focus back to downside protection.
Solana Trading Strategy Considerations
For long traders, a confirmed breakout above $173.54 with sustained volume could offer a compelling entry point, targeting $178.71 and beyond. However, caution is warranted near the $179 zone, where historical resistance could prompt short-term profit-taking.
Conversely, short positions could be considered if Solana fails to breach the $173 mark and shows signs of rejection, especially if momentum indicators begin to diverge. In such a scenario, the $164.90–$163.15 range offers logical take-profit zones.
Overall, the trend remains bullish with strong support beneath and growing signals that Solana may be gearing up for a fresh leg higher. However, traders should remain attentive to market conditions and avoid overcommitting ahead of key resistance retests.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
