Solana Price Nears Explosive Breakout as Bulls Target $180 Resistance Zone

Solana trades near $175.90 as buyers build pressure around a key resistance zone between $177 and $180. After last week’s sharp rebound, the price has maintained its position above short-term moving averages, indicating sustained bullish control across lower timeframes.

The altcoin has steadily formed higher lows since May 16, establishing an ascending trendline. These time frames line up, showing that significant support remains within the market. Regardless, the $177 to $178 area is proving challenging, causing repeated rejections that keep price movement down.

The price is currently seeing strong support, around $168 and $170, a zone that has helped the market avoid deeper falls and stay protected from immediate selling pressure. Traders now await a sign that Solana might rise past its current resistance.

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Momentum isn’t striking a clear trend yet, but the signs are mostly bullish. The Relative Strength Index on the 4-hour chart stands at 60.23, just below its previous high of 64.01. Slightly above support, the level allows upward movement, even as breaking out is still possible.

On the other hand, the MACD has crossed over and continues to show a bullish trend. The narrowing gap between the lines means momentum could soon begin to decrease. Bollinger Bands are spreading further apart, which suggests the market is becoming more volatile. Currently, price action is aimed at the upper band and is found at the current resistance.

Technical Indicators Point to Imminent Break or Rejection at $180

On the 30-minute chart, the Stochastic RSI has entered the oversold territory, indicating the possibility of a short-term bounce if buying volume increases. These signals suggest that the market is nearing a decision point as bulls push toward a critical level.

Plotting the Fibonacci levels provides valuable insight, as Solana has regained the 0.382 retracement line at $171.65 on the weekly chart, while the 0.5 level, which aligns with the 0.67 zone, is positioned near $195.22. This requires a decisive break above $180. The current high, near $177.81, seems to act as a crucial hurdle that bulls have yet to conquer.

If buyers close above $178 in the next 4 hours, $188 and $195 could be essential targets. Nevertheless, should prices stay below this resistance, they could drop to as low as the $170 area.

With the current pattern, Solana is expected to move soon, and reaching the $180 resistance could set off a rally or a new drop.

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