- Solana is approaching the crucial $150 resistance level, with strong technical signals and whale activity suggesting a potential breakout.
- A successful push could propel prices toward $215, fueled by growing institutional interest and bullish momentum.
Solana (SOL) is gearing up for a major breakout, with traders and investors closely watching the $150 resistance level — a key barrier that could unlock a surge toward $215. Riding a 2.21% intraday gain, Solana currently trades at $139.58, showing bullish momentum that’s hard to ignore.
After bouncing back from the $105 support level, SOL has broken above a descending trendline and pushed past the 23.6% Fibonacci retracement at $130 and the 50-day EMA at $136. A potential morning star pattern now signals a shift in sentiment, suggesting bulls are ready to test the $150 mark.
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This resistance zone aligns with the 38.2% Fibonacci retracement and the descending 100-day EMA — making it a critical inflection point. If Solana clears it, the next target sits at the 50% Fibonacci level near $163, with an ultimate rally possibly extending to $215, near the 78.6% retracement.
Backing this optimism is the daily RSI, which has flipped above the midpoint — a sign of building bullish pressure. Add to that, major whale activity is reinforcing confidence in Solana’s short-term potential.
Galaxy Digital, the crypto investment firm led by Mike Novogratz, has made a bold pivot — offloading 65,600 ETH (worth $105M) to acquire over 752,000 SOL (valued at $98.3M). Another whale, who recently sold SOL at $115, has re-entered with a $52.7M purchase at $141 — a move that bucks conventional trading wisdom.
Meanwhile, Cathie Wood’s ARK Invest has become the first U.S.-listed ETF manager to gain Solana exposure via the Canadian-based SOLQ ETF, further solidifying institutional interest in the asset. This move raises hopes for a future U.S. Solana ETF, especially with the SEC’s new crypto-friendly leadership.
Still, not all is smooth sailing. Pump.fun continues to offload large volumes of SOL — nearly 1.8 million tokens so far this year — potentially applying downward pressure.
But with technical indicators flashing green and whales making bold plays, Solana’s $150 breakout may just be the spark for a new altcoin rally.
