Solana Smashes Through $180 Barrier—Next Stop $205 as Bulls Take Control

Solana just ripped past the $180 resistance level like it was a polite suggestion. Traders are now eyeing $205 as the next logical target—assuming the usual crypto volatility doesn’t throw a tantrum first.

This isn’t just a pump; the charts confirm a full-blown bullish trend. Of course, in crypto-land, ’confirmed’ lasts until the next whale decides to dump their bags. Stay sharp.

Funny how these ’technical breakthroughs’ always seem to happen right before some VC unlocks a few million tokens. But hey—numbers don’t lie. Until they do.

• Solana rises 6.48% weekly, holding strong at $181.34, showing steady growth and investor interest.
• SOL breaks $180 resistance and retests $175 support, confirming a bullish trend and strong technical breakout pattern.
• MACD, RSI, and volume trends suggest continued momentum, supporting Solana’s current upward price direction.
• The price target was set at $205, with SOL gaining strength and minor resistance near $190 and $200.

Solana (SOL) is experiencing renewed bullish interest, with its current price standing at $180.34 and a weekly increase of 6.48%. Backed by a 24-hour trading volume of $7.17B and a market capitalization of $94.74B, the digital asset has maintained stability in the short term while exhibiting signs of steady upward momentum.

Overall market sentiment toward SOL also is positive with buyers monitoring technical action intensely for further affirmation of direction in the trend.

Recent chart action on the 12-hour chart shows a textbook breakout from a consolidation formation. Price action up to the final week in May built a symmetrical triangle formation, a formation commonly indicative of indecision in the market.

As solana broke the $180 resistance level on May 27, the bulls considered it a conclusive action. An immediate retest of the $175 level, now support, confirmed the integrity of the breakout and paved the way towards further advances in price.

Solana Indicators Point to Continued Strength

The chart analysis presented shows unmistakable indications of well-supported breakouts, with volume coming with the spike and pointing to high buying participation.

Though values for momentum indicators such as the MACD and RSI weren’t provided, their presence on the chart means they also made the cut with analysts and are thus indicative of increasing pressure up and buttressing the direction of the price and adding authenticity to the positive forecast.

Also, the price retracement coincided with the 50-period moving average, a juncture typically strengthening market belief. Such technical convergence tends to bring institutional focus and heighten direction moves. The combination of volume, trendline break and moving average support is indicative of a strong setup in favor of the bulls.

Target in Sight: $205 Within Reach?

With the current value resting at $183.71 and its 12-hour performance reflecting a 4.45% appreciation, traders are looking at $205 as the next obvious target, an 11.5% appreciation from the current levels.

Psychological levels at $190 and $200 will presumably exert weak resistance, but the setup suggests they might prove temporary.

While market momentum persists and no significant macroeconomic setbacks arise, Solana can potentially continue attracting strong investor attention towards its predicted shorter-term high.

Related Reading | Sui’s Cetus Protocol Offers $6M Bounty To Hackers After $223M Attack