Solana reached first profit target at $168
Price now pulling back to test key support
200-day EMA and 20-day MA are critical levels
Strong Breakout Followed by Key Test
Solana (SOL) recently delivered a powerful breakout move, hitting its first profit target at $165 — and briefly overshooting to $168. This rally followed technical signals shared days before the breakout occurred, and now attention turns to the next phase of the trend: support confirmation.
Currently, Solana is experiencing a healthy pullback after its bullish surge. The question now facing traders and investors is whether SOL can hold above the critical 200-day Exponential Moving Average (EMA), or if it will dip further to test the 20-day EMA, currently sitting around $153.
Key Support Levels to Watch
The 200-day EMA — often a long-term support level — is being tested. If Solana holds above this level, it could signal that buyers are stepping back in, providing a potential launchpad for the next upward leg.
However, if the 200-day EMA fails to hold, the next significant support is the 20-day EMA at $153. A dip to this level wouldn’t necessarily invalidate the broader bullish trend but would suggest a deeper short-term correction is underway.
Traders will be closely watching volume and candlestick behavior at these levels to determine the next move.
SOLANA had a strong breakout reaching take profit target #1 at $165 (actually a little over at $168) as I shared a few days ago before the breakout came.
Now we are seeing a slight pull back. Question now is do we hold the 200 day EMA (purple line) as support or do we see a… pic.twitter.com/SZoH3xcOuG
— Lark Davis (@TheCryptoLark) July 12, 2025
Momentum Intact, But Patience Needed
While the recent breakout shows strong upward momentum for SOL, pullbacks are a natural part of market structure. Whether this current dip is a brief retest or the start of a deeper correction depends on how price behaves around these EMAs.
For those trading Solana, platforms like Bitunix are offering zero-KYC trading with up to $400 in deposit bonuses and $9,000 in trading bonuses, giving traders added flexibility in managing their risk and capital.
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