If Solana ends the week at this level, it will ‘open the gates’ to $2,000
2025-07-12 15:18:57
Main Idea
Solana (SOL) shows potential for a significant price surge despite recent bearish pressures, with key resistance at $170 being a critical breakout level.
Key Points
1. Solana (SOL) is trading at $160, down 4% in 24 hours but up 8% over the past week.
2. A bullish breakout could occur if SOL closes above the $170 resistance level, supported by a cup-and-handle pattern formed since mid-2022.
3. Fibonacci extension levels suggest potential price targets at $250, $470, $850, and $2,000 if momentum continues.
4. Bearish pressure comes from 190,000 SOL ($31 million) unstaked from FTX and Alameda Research-linked wallets, raising concerns about potential liquidation.
5. Macro shocks, such as recent tariff announcements, add to the bearish sentiment around Solana.
Description
Solana’s ( SOL ) bullish run on the weekly chart appears to be cooling, but a trading expert believes the decentralized finance ( DeFi ) asset still has the potential to surge over 1,000%. As of press time, SOL was trading at $160, down 4% in the last 24 hours. However, the asset has gained 8% over the past week. SOL seven-day price chart. Source: Finbold Looking ahead, cryptocurrency trading expert Ali Martinez noted that if Solana breaches the $170 resistance level and closes the week above it...
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