Solana (SOL) has surged 18% in under a week to reach $181, fueled by significant bullish momentum. Trading volume, however, dropped 10% during this period—a signal suggesting potential profit-taking among traders as prices approach critical thresholds.
The cryptocurrency now faces a decisive resistance band between $184 and $185. Successful breach of this barrier is widely viewed as essential for unlocking further upward potential. On-chain metrics provide mixed cues: $15.18 million in exchange inflows coupled with $436.74 million in cumulative long liquidation leverage reflects sustained bullish dominance in derivative markets.
Technical analysis indicates SOL has broken above a descending trendline, setting the stage for a potential rally toward $256 if it conquers the $185 resistance. While the Relative Strength Index (RSI) at 57 allows room for growth, the Supertrend line resistance at $190.33 continues to flag an active near-term downtrend, adding complexity to the price outlook.