Can Solana Price Target $180 Next? Sentiment Turns Bullish

Solan (SOL) price was poised for a potential reversal, with its market participants turning bullish despite the sell-off from PumpFun. Keep reading to learn how Solana price may perform in the near future.

Solana Price Prediction

After a strong uptrend, Solana price maintained its position at $148.70 while it approached the critical resistance area around $180. That matched its 200-Day Moving Average (MA).

Throughout its history, this major average functioned as a flexible indicator for trend changes during each point of contact and crossing. SOL reached this resistance level at the beginning of March before starting a steep downward movement.

The price needed to break through $165 while maintaining upward momentum. Thus, Solana price could rise toward $180. This altcoin could establish a long-term trend change if it maintains a breakout above the $180 level while opening a possible test between $200 or higher levels.

A pullback to the $141–$135 range would be likely if SOL failed to break through $180 and resist the 200-day MA.

The ascending pattern of higher swing lows since hitting $90 suggested positive trends could continue. However, weak buying pressure between $165 and $170 might cause market uncertainties for traders.

The $180 level was the make-or-break deciding point in market direction. That’s because a drop below this level may initiate an upper limit on gains. However, a continued rise above it would push bullish hopes for May highs.

Sentiment of Market Participants

Again, the sentiment gauges on Solana showed moderately positive values. The Crowd Sentiment stayed at 1.19 while Smart Money Sentiment reached 0.93.

Those values maintained positivity, but restrained positions indicated institutional and retail players favored higher prices. They remained cautious, though.

The positive market signals between both sentiment measures created a healthy environment for continued Solana price gains, especially when its price supported the bullish momentum.

The strong bullish sentiments had not reached substantial levels thus conviction continued its buildup. Future Solana price movements depend on sentiment trends parallel to enhanced volume and price performance.

The mood of the market, if things get worse or change, could lead to both merging and pulling back in the market setting.

Looking at how people feel about the market backs up a possible upward SOL price trend. However, it needs shifts in how others see the market to choose between long-term growth and going down in price.

Will PumpFun Derail Potential Solana Price Uptrend?

Kraken received a total of 117,913 SOL worth $18.26M through multiple transfers from Pump.fun during their recent activity period.

Pump.fun carried out two significant transfers: a transaction of 52,594 SOL worth $8.19M and another transaction of 10,473 SOL worth $1.62M.

The total SOL deposits by Pump.fun stood at 3,097,265 SOL, which corresponded to $575M while carrying an average selling price of $186. Pump.fun attempted to exit large positions by selling 264,373 SOL at $41.64M USDC through the liquid markets at the reduced price of $158.

High-level deposits to centralized exchanges during short periods suggested an immediate potential pressure to sell tokens.

However, if more deposited tokens were accumulated by speculators instead of selling, the potential trajectory could change.

Assessing the data historically, such trading actions have triggered market instabilities, which result in brief price drops.

The broader bullish structure of SOL continued to exist even though recent supply might have temporarily affected its price.

Strong purchases could absorb this selling pressure to potentially extend its rally. It is best to observe Kraken’s market moves along with price movements between $155–$160 to determine if buyers or sellers are in control of Solana price next.

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