Solana (SOL) is positioned for a potential climb toward $164, fueled by growing institutional adoption and bullish technical indicators. A critical support level at $147 is currently underpinning the token’s upward momentum.
SOL has surpassed the key 0.786 Fibonacci retracement level at $153.54, setting near-term price targets at $158.08 and $164.06. The token maintains a bullish posture by trading above both its 50-day and 200-day exponential moving averages.
Institutional confidence is reflected in major developments including Solana’s inclusion in the Truth Social Crypto Blue Chip ETF and Bullish exchange’s migration to the Solana blockchain. These moves signal strengthening institutional adoption of the network.
Analysts note that sustained trading above the $164 resistance level could trigger further upside targets between $186 and $200. Market stability relies heavily on SOL maintaining support above $147, with downside risks emerging if this level falters.