Solana (SOL) is facing a critical moment as it tests the resistance level at $180 after a steady rise from its previous lows. Technical analysts are monitoring Solana's price action around this area, where the coin has formed a classic cup-and-handle pattern.
Market participants are preparing for either a potential breakout or a pullback. Current price dynamics indicate that Solana stands at a crossroads that may influence its trajectory for the remainder of 2025. Trading volume remains strong as investors balance technical signals with broader market conditions.
■ Solana Price Forecast: Key Breakout Zone Highlighted
Cryptocurrency analyst, Okan, highlighted the significance of Solana's current position in his recent market analyses. The analyst noted that Solana has steadily risen from $123.89 and is now trading around $175, just below the critical resistance level at $180.
According to the analysis, this resistance area represents both horizontal resistance and the breakout point for the cup-and-handle pattern.
The price prediction scenario presents clear targets for both bullish and bearish outcomes. If Solana can break through the $180 level with strong momentum, analysts expect the next target to reach $211. However, rejection at this level could lead to a pullback towards the support area between $150 and $160.
Robert Mercer, another market watcher, compared the current price movement of Solana to the successful breakout pattern we observed in October 2024.
The analyst confirmed that the current situation reminds him of the previous rise when Solana surged from $150 to $200 after a similar breakout of the resistance level.
Historical data shows that Solana has experienced periods of stability around $180 before achieving significant price gains. Chart patterns indicate that once this resistance level is surpassed, Solana may witness a rapid price increase, similar to its performance in early 2025 when it peaked near $240.
■ Current Solana market data reveals mixed signals
Latest price data from CoinGecko shows Solana trading at $175.78, with a significant 24-hour trading volume of $3.19 billion.
The token has dropped by 1.31% over the past day, but it has maintained positive gains of 4.89% over the past week. SOL has traded within a range of $165.55 to $186.79 during the current weekly cycle.
Market analysts suggest that building momentum above $186 could trigger a bullish rally extending beyond current resistance levels. Conversely, failing to maintain a support level above $165 could lead to further declines toward the psychological support level at $150.
Professional traders are applying strategies to deal with the current technical situation of Solana. Verified Investing analysis recommends monitoring the close above $184 as confirmation of a true breakout.
The critical level of $123 remains the final invalidation point for the bullish structure. A collapse below this support would indicate the end of the current positive situation and could open the door to further downward pressure.
Current sentiment data from CoinCodex indicates a bullish stance of 53% among market participants, reflecting cautious optimism regarding SOL's near-term prospects.