Solana’s Recent Surge: Key Resistance Levels and Market Dynamics Suggest Potential for Further Upside

Key Points

1. Solana's price surged 18% in under a week, reaching $181, but trading volume dropped by 10%, indicating potential profit-taking.

2. Key resistance levels are identified at $184–$185, crucial for further upward momentum.

3. On-chain metrics show $15.18 million in exchange inflows and $436.74 million in cumulative long liquidation leverage, highlighting bullish dominance.

4. Technical analysis suggests a breakout above a descending trendline, with $185 as a critical level for a potential push toward $256.

5. Solana's Relative Strength Index (RSI) is at 57, indicating room for further upward momentum, but the Supertrend line at $190.33 signals an active downtrend.