Solana has set sights on a potential move toward $900
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Solana (SOL) has experienced a minor retreat lately, dipping by 4.2% over the past week as the broader crypto market took a breather. Despite the price softening, trading activity tells a different story — volume has surged by 19.4% in the last 24 hours, indicating a potential accumulation phase as investor interest returns.
Though SOL slipped 0.7% in the latest daily session, technical analysts suggest the groundwork for a breakout is quietly being laid. Notably, market strategist TradingShot has set sights on a potential move toward $900, contingent upon SOL surpassing the pivotal $170 resistance level.
Mounting Momentum Toward Key Resistance
The $170 mark is more than a psychological barrier — it aligns with Solana’s 50-week moving average, a historically significant level that has acted as a ceiling during previous rallies. A sustained move above it would not only confirm a bullish breakout but could also unleash momentum toward $350 in the short term, potentially extending to $900 under ideal market conditions.
In the event of a downside move, the $97 support level remains a vital safety net according to TradingShot’s analysis. This has served as a floor throughout SOL’s ongoing uptrend, which has remained intact since December 2022, respecting the contours of a rising wedge pattern.
Technical Indicators Send Mixed Signals
Bullish factors remain evident on higher timeframes. The weekly Relative Strength Index (RSI) has flipped above its signal line, pointing to increasing buying pressure. Meanwhile, macroeconomic factors are providing unexpected tailwinds. The U.S. economy contracted by 0.3% in Q1, opening the door for the Federal Reserve to consider rate cuts — a historically favorable setup for growth-oriented assets like SOL.
Furthermore, global risk sentiment has improved. With the Trump administration signaling openness to diplomatic negotiations over upcoming tariffs, geopolitical fears have cooled slightly — another bullish cue for speculative assets.
Daily Chart Highlights Looming Crossovers
On the daily chart, Solana’s price recently reclaimed the 21-day exponential moving average (EMA) on strong volume — a bullish sign. The price has since used that level as a launchpad, pushing toward the 200-day EMA, a major technical milestone.
Should the 21-day EMA cross above the 200-day EMA — known as a "golden cross" — it could reignite momentum. Historically, this crossover preceded a 66% surge in price. If replicated, this move could catapult SOL to at least $270, placing it within striking distance of new all-time highs.
However, not all indicators are fully aligned yet. The daily RSI has slipped below its signal line, while the MACD histogram turned red for the first time since mid-April — subtle warning signs that bulls have more work to do.
Key Levels to Watch
For the uptrend to remain viable, SOL must hold critical support levels at $143 (EMA support) and $133 (horizontal support). As long as these zones remain intact, bulls are still in control, and further upside potential remains on the table.
Although the $900 target may seem ambitious in the near term, SOL still has a strong shot at delivering meaningful gains in 2025 — especially if it can decisively break above resistance and confirm key technical patterns.
Exploring Alternative Opportunities
For investors seeking outsized potential beyond large-cap tokens, early-stage projects like Solaxy (SOLX) are gaining attention. These presale tokens often offer significant upside — albeit with higher risk — making them attractive to those with a higher risk tolerance.
As Solana continues to consolidate near key levels, the coming days may prove pivotal. A breakout could mark the start of a new chapter for the network — and for investors willing to ride the wave.
