Solana Nears Make-or-Break $181 Resistance as Altcoin FOMO Kicks In

Solana bulls are charging toward a critical resistance level at $181—a price point that could either trigger a parabolic breakout or send traders scrambling for exits. The altcoin’s recent surge rides the wave of market-wide FOMO, with retail piling into ’next Bitcoin’ narratives (again).

Technical indicators show SOL flirting with overbought territory, but since when has that stopped crypto speculators? Watch for a decisive close above $181 to confirm bullish momentum—or prepare for the inevitable ’rug pull’ tweets if it rejects.

Fun fact: This resistance zone last saw action when VC funds were still pretending they ’believed in the tech’ during the 2021 mania. Some things never change.

Solana (SOL) price has gradually followed the palpable rise of Bitcoin (BTC) and ethereum (ETH) in the last few days. The large-cap altcoin, with a fully diluted valuation of about $89.8 billion and a 24-hour average trading volume of about $8.8 billion, recorded a 17 percent pump in the past week to trade about $173 on Friday, May 9, during the later North American trading session.

Following the heightened volatility, Solana’s Leveraged market recorded a net liquidation of about $31 million in the past 24 hours. Meanwhile, Solana’s on-chain liquidations on native perpetual exchanges reached a high of over $47 million in the past 24 hours, thus increasing the odds of a short squeeze.

Solana Network Thrives with Institutional Investors 

The solana network has attracted significant cash inflow from institutional investors, led by Sol Strategies, in the past few quarters. The notable memecoin growth within the Solana network helped increase its total value locked to over $8.7 billion.

As Coinpedia reported, several fund managers are seeking to offer spot Solana ETFs in the United States. Moreover, the U.S. SEC under the Donald Trump administration has accelerated its pro-crypto stance in two months compared to Gary Gensler’s four-year term.

Midterm Target for SOL Price

From a technical standpoint, it is now safe to say that Solana price is under the influence of bullish sentiment. In the 2-hour timeframe, the SOL price successfully rebounded from a breakout of a falling logarithmic trend.

With the 2-hour timeframe MACD line having crossed the zero line and the Relative Strength Index (RSI) above the 70 percent level, SOL price is now aiming for $187 and $240 next. The macro-bullish stance for SOL price will be fully confirmed once the altcoin crosses above the 200-day Moving Average Simple (SMA).