Solana Bulls Eye $165 Resistance Amid Strong Institutional Interest
Solana (SOL) has shown remarkable resilience following a 6% pullback from its recent peak of $163.65, stabilizing above $157 despite volatile market conditions. The rebound underscores growing institutional interest, with notable developments such as Canary Capital's spot ETF filing and WalletConnect's new token launch on the solana network. On-chain metrics further bolster bullish sentiment, with daily active addresses and transaction volumes surging by 26%. As of June 4, 2025, SOL is trading at 155.66000000 USDT, with analysts eyeing the $165 resistance level as the next key target. The combination of strong fundamentals and increasing adoption positions Solana for potential upward momentum in the near term.
Solana Bulls Regain Control After 6% Pullback, Eyes $165 Resistance
Solana (SOL) demonstrated resilience after a sharp 6% correction from its $163.65 peak, stabilizing above $157 amid volatile market conditions. The rebound reflects persistent institutional interest, highlighted by Canary Capital's spot ETF filing and WalletConnect's new token launch on the network.
On-chain metrics reinforce bullish sentiment, with daily active addresses and transaction volumes climbing 26%. Analysts identify $165 as the next critical resistance level, while Solana's expanding developer ecosystem cements its position as a leading ethereum alternative.
Technical analysis reveals key support at $154.50 triggered the recovery, with immediate resistance forming at $157.70. Notable volume spikes NEAR $156.18 confirmed a local bottom, establishing a short-term uptrend channel between $156.40-$156.70 before broader consolidation.
Solana’s Upward Trend: Will It Reach New Heights or Face a Reversal?
Solana (SOL) continues its bullish trajectory within an ascending channel, trading at $156.60 after rebounding from the 0.618 Fibonacci retracement level. The pattern suggests further upside potential, with traders eyeing key resistance levels at $188.89 and $206.07 if momentum sustains.
Critical support lies at $151.70—a breach could trigger a bearish reversal. Conversely, a decisive break above $164.50 may accelerate gains. Analysts note the lower channel boundary has historically acted as a springboard for rallies, though a drop below support could signal the start of a corrective fifth wave.
Pump.fun Plans Massive $1 Billion Raise to Dominate Viral Crypto Market
Pump.fun, the Solana-based meme coin launchpad, is preparing for a $1 billion token sale that could value the platform at $4 billion. The raise would rank among the largest in crypto this year, signaling the growing influence of community-driven finance in Web3.
At its peak, Pump.fun generated $7 million in daily revenue, cementing its position as a key player in Solana's meme coin ecosystem. The token sale will reportedly be open to both institutional and retail investors, blending capital formation with viral engagement.
The platform's success underscores the market's appetite for speculative assets with strong community narratives. Solana's infrastructure continues to support high-velocity trading of meme coins, with Pump.fun emerging as a primary beneficiary.
Pump.Fun Ecosystem Tokens Slide Amid $1B Fundraise Speculation
Solana-based launchpad Pump.fun faces market turbulence as reports surface of a potential $1 billion token sale. The proposed deal, valuing the project at $4 billion, triggered a selloff across its ecosystem tokens despite scant details on tokenomics.
Fartcoin (FARTCOIN) led declines with a 7% drop, followed by Peanut the Squirrel (PNUT) and other meme tokens shedding up to 6%. The sector lost $150 million in aggregate value, though retained most weekly gains. Traders fear new token supply could flood the market, undermining the platform's own creations.
Industry observers question the rationale behind the massive capital raise. "Why does Pump need $1 billion when it's already generated $675 million?" asked one prominent DeFi founder, echoing widespread skepticism about the fund's intended use.
