$SOL
Solana could experience significant changes in its price over the weekend due to the token sale being conducted by PumpFun. As I reported, PumpFun will launch an ICO worth $4 billion on July 12, aiming to expand the activities of memecoins on its platform, which will extend to the Solana blockchain.
This token sale comes at a time when the cryptocurrency market is generally on the rise, supporting bullish sentiment towards the price of Solana. At the same time, a rounded fund has been created, indicating that more profits could be coming, as it is likely to end the decline that SOL has experienced in recent months.
One of the signals confirming this bullish outlook is that SOL is testing resistance at $165. The price of SOL has been near this resistance level twice, but it needs to achieve a strong close above it to confirm that bullish traders have the advantage.
Once this resistance level is overcome and Solana starts to rise, the price could extend its upward movement with an increase of over 30%, pushing the price not only to $200 but to $216, which is the highest level since early February 2025.
However, for this bullish price prediction for Solana to materialize, the token must overcome resistance at the 200-day simple moving average (SMA) of $164. History shows that every time SOL has surpassed this SMA, it has experienced strong gains for months before a decline occurred, increasing the likelihood of rising to $200.
