Solana Eyes $175 Breakout for Bullish Revival Amid Mixed Signals

Solana (SOL) is approaching a pivotal moment as it nears a critical breakout zone around $175, with rising volatility and improving market sentiment suggesting a potential bullish reversal. Currently trading at $162.91 (USDT), SOL’s technical indicators present a mixed outlook—the RSI remains neutral, while the MACD hints at early upward momentum. However, the broader trend remains bearish, leaving traders cautiously optimistic. A decisive close above $175 could confirm a trend reversal and spark a new rally, but failure to hold $165 may lead to further downside. This analysis explores the key levels and signals shaping Solana’s next move.

Solana Price Prediction: SOL Aims to Reclaim $175 to Ignite a New Rally

Solana approaches a critical breakout zone as rising volatility and improving market sentiment hint at a potential bullish reversal. Technical indicators paint a mixed picture—the RSI remains neutral while the MACD shows early signs of upward momentum, though the broader trend stays bearish.

A decisive close above $175 could mark a trend reversal, reigniting bullish momentum. Conversely, failure to hold $165 may trigger a deeper retracement toward the $155–$160 support range. Market participants are closely monitoring SOL for signs of recovery after recent losses.

Solana Tests Critical $160 Support Amid Bearish Sentiment

Solana’s price slid to $162 on Monday, teetering NEAR a crucial support level at $160. A breach below this threshold could trigger a deeper correction toward $141, according to technical analysts. The asset failed to overcome resistance at $184.13 earlier this month, now hovering near its 200-day exponential moving average—a key trend indicator.

Market sentiment has turned decidedly bearish, with the long-to-short ratio dropping to 0.85 as short positions hit a monthly peak. Yet some traders see long-term potential: Analyst ’Mags’ identifies an ascending triangle pattern suggesting a bullish target of $1,650 over extended timeframes.

Solana Meme Coin Ponke Partners with 223 for Collectibles and Apparel Launch

Ponke, a top-tier Solana-based meme coin, has forged a strategic alliance with 223, a JCorp spinout specializing in licensed accessories. The collaboration aims to develop adult-oriented collectibles and apparel, with initial concept designs slated for display at the Las Vegas Licensing Expo.

The venture explores innovative product lines including blind box collectibles, premium toys, and cannabis-adjacent merchandise. Each item will integrate NFC chip technology, potentially enabling token rewards, supplementary physical goods, or NFT-based authenticity verification.

Solana’s Sonic SVM Chain Introduces New Burn Mechanism to Boost Liquidity

Sonic SVM, a Solana-based blockchain leveraging the Solana VIRTUAL Machine, is overhauling its tokenomics with a new burn mechanism designed to enhance liquidity and buying pressure for its native token, SONIC.

Starting May 19, 50% of all transaction fees will be allocated to open-market purchases of SONIC tokens, replacing the previous model where fees were sent to a burn address. This shift aims to create direct demand for the token rather than relying solely on supply reduction.

The layer-2 network, which focuses on monetizing user attention in applications, expects the updated model to strengthen SONIC’s market dynamics. Solana’s ecosystem continues to innovate with such economic adjustments as it competes in the crowded smart contract platform space.