Solana Defies Gravity at Critical Support – Is $160 the Launchpad to New ATHs?

Solana's price action tightropes above make-or-break support as traders eye a potential rocket ride to $160.

The Setup:

SOL's chart prints a textbook bullish flag after absorbing sell pressure like a crypto sponge. No fancy indicators needed—just pure supply-demand physics.

The Stakes:

A clean breakout above $160 could trigger algorithmic buying frenzies from institutional bots (who still pretend they 'understand' blockchain).

The Wildcard:

Watch Bitcoin's dominance like a hawk—because nothing in altcoin land matters when BTC decides to throw a tantrum.

Bottom Line:

This isn't financial advice, but the last time SOL looked this coiled, it ran 300%. Then again, 'this time is different' is Wall Street's most expensive four-word phrase.

Solana Tests Micro Support Around $133–$137

Solana’s current levels are now testing micro support between $133 and $137, according to market analysis shared by More crypto Online. So far, this zone has remained solid, keeping hopes alive for yet another bounce towards $144-146. The analyst notes that SOL is still moving inside a broad descending channel, but momentum appears to be changing.

A key development is the formation of an inverse Head & Shoulders pattern at the bottom of the current structure. The region surrounding the neckline has been repeatedly subjected to testing. This indicates that there’s possibly mounting force behind purchases. All SOL needs to do is remain above the support level in the right shoulder region to maintain the uptrend.

A clean breakout above the neckline may open up the way towards the upper boundary of the descending channel, with a significant level of reaction likely seen in the vicinity of $155-$160. But sliding below the right shoulder may further hold up the reversal and push the prices towards the mid-channel support level.

Patterns Suggest Potential SOL Recovery Phase

On-chain data provides further insight here. Wallet flow analysis indicates accumulation in wallets, revealing that the longer-term investors are quietly amassing positions. However, the derivatives market indicates otherwise. The SOL futures market saw a 3% decrease in volumes compared to significant rises of 43% in Bitcoin and 24% in Ethereum.

This gap highlights a rare moment of silence in the solana derivatives market, despite stablecoin inflows rising across the broader crypto space.

However, simultaneously, the relative unrealized profit has dropped again to levels not seen since October 2023, when SOL was trading close to $20. This type of reset tends to mean that there are no more leftover unrealized profits in the market that may cause another accumulation stage.

The Net Realized Profit or Loss index also displayed strong negative levels during November, just like in the February-April 2025 Low zone. Before many rallies in the past, this pattern often unfolded. However, there WOULD still be a need to position in relation to momentum.

For now, Solana sits at a key turning point. Holding support may allow the price to continue building toward higher levels, while an early breakdown would extend consolidation. All eyes remain on the neckline zone, where the next decisive move is likely to form.