- Solana is approaching the key $180 resistance with strong bullish momentum, but historical patterns hint at a possible pullback due to profit-taking.
- Investors may find a better entry around $150–$160 if demand remains steady.
Solana (SOL) is once again knocking on the door of the crucial $180 resistance level, fueled by bullish momentum and renewed investor optimism. Yet, historical patterns and current on-chain metrics suggest that a wave of profit-taking could put the brakes on SOL’s rally.
Over the past week, Solana has surged rapidly, reclaiming its bullish market structure by breaking past the Q1 2025 lower high at $143. This technical breakout was confirmed when the same level flipped into support, allowing the token to push higher toward $178. The Awesome Oscillator and On-Balance Volume (OBV) both signal strong momentum and sustained demand.
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However, not all signs point to a clean breakout. The Spent Output Profit Ratio (SOPR) — which currently sits at 1.16 — indicates that many holders are in profit. Historically, whenever SOPR has hovered between 1.06 and 1.1, Solana has faced sharp retracements, suggesting that a correction may be imminent as traders begin to lock in gains.
Adding to the caution, whale accumulation seems to have plateaued. While large wallets (holding 100k+ SOL) were active during the late 2023 rally, recent address distribution data shows no significant uptick in this cohort, even as prices surged. This divergence hints at a lack of deep conviction from major players despite strong fundamentals, including a recovered Total Value Locked (TVL) and robust network activity.
Still, the absence of whale accumulation doesn’t entirely undermine Solana’s bullish potential. Fundamentals remain intact, and the overall sentiment in the altcoin market is supportive. A pullback to the $150–$160 zone could present a healthy correction and a potential buying opportunity for those who missed the initial run-up — especially if the OBV trend continues upward.
In summary, while Solana bulls have their eyes firmly set on breaching the $180 barrier, the possibility of short-term profit-taking looms large. Investors may be wise to tread carefully and look for a dip before going all-in. The trend is bullish — but the path may not be straight.