Solana price prediction this week: can $160 spark the next leg up?

Key Points

1. Solana surged over 4% on July 10, reaching $159.60, with a 19% increase in 24-hour trading volume to nearly $4.9 billion.

2. Despite the recent uptick, Solana remains 46% below its all-time high of $294, pressured by regulatory uncertainty and Bitcoin ETF preference.

3. DeFi Dev Corp increased its holdings to over 846,000 SOL (worth $133 million), signaling strong conviction in Solana's long-term potential.

4. Analysts estimate a 95% chance of Solana ETF approval, which has already shifted market sentiment, with SOL now included in the Truth Social Crypto Blue Chip ETF.

5. Solana's price path to $200 depends on breaking the $160 resistance, with potential targets at $180 and $200 if support holds, or consolidation between $140 and $160 if resistance persists.