Solana News: Potential Bullish Breakout Anticipated with CME SOL Futures Launch

Solana (SOL) is poised for a potentially significant upswing, according to recent analysis by BeInCrypto. Here’s what you need to know about SOL’s current status and future prospects.

3 Altcoins to Watch in the Third Week of March 2025 - Solana Highlighted

BeInCrypto has analyzed Solana (SOL) as a key altcoin to watch in the third week of March 2025. SOL’s price is currently at $129, with potential for a bullish breakout. On March 17, the Chicago Mercantile Exchange (CME) will launch SOL Futures, which could drive substantial institutional inflows into Solana. This development could inject bullish momentum into SOL, pushing the altcoin higher. The critical resistance level to watch is $161, which would require a 24% price surge. However, for this rally to materialize, SOL must first breach the $135 and $148 resistance levels.

Solana Turns 5: Ecosystem Faces Major Downturn

Solana, once hailed as the breakout star of the post-pandemic crypto era, marks five years since its inception. However, it is now facing a significant downturn, with decentralized exchange (DEX) volumes plummeting from a peak of $36 billion to $988 million. Investor conviction is faltering amid cooling sentiment, raising questions about the future of the high-speed blockchain that once rivaled Ethereum in buzz and activity.

Solana Price May Drop to Double Digits - Major Levels to Watch

Crypto analyst SiDec has raised the possibility of the Solana (SOL) price dropping to double digits. The analyst highlighted the range between $136 and $143 as the major resistance zone, while $102 to $98 is seen as the next major support zone. If SOL fails to hold this support zone, it risks dropping to double digits soon. The Solana price has been in a slow uptrend over the past five days, after hitting a low at $112, and the current price action looks like an ABC corrective pattern, which could suggest further declines.

Solana Holds Bullish Pattern – Expert Sets $140 Target

Solana (SOL) has faced selling pressure with the price failing to reclaim key resistance levels after weeks of fear-driven market conditions. The price dropped below $180, a crucial support level. Bearish sentiment has dominated since then. However, top analyst Ali Martinez revealed a technical analysis suggesting SOL is forming a bullish channel in the short-term, hinting at a potential surge to higher price levels if SOL holds within this formation.