Solana Eyes $900 Comeback—But This Key Resistance Level Could Derail the Rally

Solana’s bulls are charging toward a $900 price target, fueled by renewed institutional interest and a surge in DeFi activity. The network’s throughput—clocking 2,500 TPS during peak demand—keeps traders betting on SOL as Ethereum’s scrappier competitor.

Not so fast. The $750-$780 zone looms as a brutal supply wall, where 18 months’ worth of bagholders await their breakeven. If SOL clears that? Sky’s the limit. If not? Another ’crypto renaissance’ gets postponed until the next Fed pivot.

Meanwhile, Wall Street quietly loads up on SOL futures while retail traders YOLO into meme coins. Some things never change.

Why The Solana Price Is Turning Bullish

Crypto analyst TradingShot has explained why the Solana price has been turning bullish recently. In a recent analysis, they explain that the rebound at the beginning of April has shown strength in the digital asset. This came as Solana bounced off the 1-Week MA200 at the start of last month, and this bullish start carried on to the end of the month.

With the momentum built up, the altcoin saw multiple weekly closes, and eventually closed out the month of April with another green weekly candle. This has set it on a path toward the next critical level, which lies at the 1-Week MA50 and follows the blue trend line at around $170, as shown in the chart below.

This level is now the major point to break if Solana is to continue its bullish run in the month of May. The interesting thing about this level, as the crypto analyst explains, is that if the SOL price is able to surmount it, then it is expected to turn into support for the altcoin. Support at $170 would be quite bullish for the Solana price, serving as a possible bounce off point toward $200 once again.

Targets From Here

As stated above, the first thing is for the Solana price to actually test and break the blue trend line at $170. If this is successful and the bottom is in, then the next big target from here is the $350 level. The crypto analyst explains that this $350 target is the higher high of the wedge.

Next, a clean break above $350 sets it on a clear path toward $900 as it sets higher highs. “Given that the recent 3-month correction was -67.23%, identical to the last correction (May 2021) of the previous Cycle, we expect one final rally to the 2.0 Fibonacci extension at $900, if the Higher Highs trend-line breaks,” TradingShot said.