Solana (SOL) is undergoing a critical technical test at the $155–$160 support level after failing to sustain momentum above the $206 resistance. Market analysts indicate this zone could determine SOL’s near-term trajectory, with a successful defense potentially triggering a rebound toward $180 or higher.
Should SOL maintain its current support strength, traders anticipate a breakout above the $172 resistance level as the next key signal. Such a move could propel prices into the $182–$192 range, though sustained upward momentum would require confirmation through trading volume metrics. Technical indicators currently reflect bullish sentiment, with the 5-day and 10-day moving averages trending upward amid an RSI reading above 50.
Market participants are advised to monitor the $155–$160 region closely, as its stability remains pivotal for recovery prospects. SOL presently trades at $170.13, registering a 3.77% gain over the past 24 hours. Its market capitalization stands at $91.72 billion, reflecting persistent investor interest despite recent volatility.