Solana (SOL) Reclaims $160: What's the Next Achievable Price Target?
Solana (SOL) has recently reclaimed its $160 price mark, shortly after falling to a price threshold below $150. The token had earlier embarked on a track to touch the $200 price mark, but faced resistance. This resurgence has investors wondering: What's next for SOL price and what are the potential price targets?
Solana's Struggle and Subsequent Rebound
Solana (SOL) price faced a 20% drawdown after failing to break $160 resistance earlier. This pullback tested investor confidence. However, Solana has reclaimed the $160 level on Monday, June 9, up 6% over the weekend, signaling renewed bullish momentum. On July 16, Solana’s price rose above $160, marking a 20% gain from its recent low on July 12. The surge is likely fueled by positive market sentiment and renewed interest in the Solana ecosystem. Solana has recently reclaimed its $160 price mark after briefly dipping below $150.
The Importance of the $160 Level
Price Breaking $160 is crucial for a bullish SOL price trend. As noted previously, SOL’s open interest trends suggest a major breakout phase ahead. To sustain the bullish structure and avoid a deeper retracement, SOL must push through $160 and target the $180 level next.
Potential Price Targets: Eyes on $180 and Beyond
So, what is the next achievable price target for Solana now that it has broken back above $160? A successful move above this range would not only restore confidence, but pave the way for higher targets. The analyst believes a successful breakout will send SOL’s price to the $160 resistance zone next, potentially moving toward the $180 targets.
Key Resistance and Support Levels to Watch
Key Resistance: Keep a close eye on the $180 level. A sustained break above this point could trigger further upward movement.
Key Support: The $150-$160 range now acts as a crucial support zone. Holding above this level is essential for maintaining the bullish outlook.
Technical Analysis and Market Sentiment
What’s Next For SOL Price? Solana has reached its 20-day Exponential Moving Average (EMA) at $162 on the 4-hour chart, which is likely to serve as a significant indicator of short-term price direction. Negative funding rate and historical CMF patterns suggest a potential rebound could occur. Continued positive news surrounding the Solana network, increasing adoption, and favorable macroeconomic conditions could further fuel the rally. However, regulatory concerns and increased market volatility remain potential headwinds.
While predicting future price movements is impossible, the indicators suggest that the next achievable price target for Solana, contingent on breaking and holding above $160, is the $180 level. Careful monitoring of market conditions and risk management are essential for navigating the volatile cryptocurrency market. 20 de sept. de 2025