By Key Points
- Solana Price Rally Needs 40% Surge to Break Key Resistance
- Long-term holders accumulated 1M SOL ($128M), reinforcing support
- RSI is climbing but must cross the 50.0 neutral level for bullish confirmation
- SOL needs a 40% jump to break the $180 resistance
- A drop below $126 could send SOL toward $109
Solana (SOL) has been battling market volatility, struggling to reclaim its previous highs. Despite multiple recovery attempts, the altcoin is facing a crucial resistance at $180. However, long-term holders (LTHs) are showing confidence, accumulating over 1 million SOL—worth approximately $128 million—within a week.
Solana HODLer Net Position Change. Source: Glassnode – Techtoken
This increase in holdings suggests that investors are betting on a potential Solana market surge, reinforcing key support levels and reducing the likelihood of major sell-offs. Historically, strong accumulation from long-term holders has signaled optimism, often preceding significant price breakouts.
$SOL/USDT Market Update: Consolidation Incoming!
Solana is trading at $128.25, attempting to reclaim key support. If price holds above $126, a breakout towards $130+ is likely. Failure to hold this level may lead to another retest of lower support.#Solana #SOL #Crypto #SOLUSDT pic.twitter.com/hLfUwgnUdF
— Token Slayer (@tokenslayer12) March 17, 2025
From a technical standpoint, Solana’s Relative Strength Index (RSI) is trending upward, which could indicate a shift toward bullish momentum. However, for confirmation, the RSI must break past the neutral 50.0 level and turn it into support. If this happens, SOL could gain the momentum required to challenge key resistance levels.
Solana RSI. Source: TradingView – Techtoken
SOL Must Break $180 to Confirm Bullish Reversal
Currently, Solana is trading around $128, holding above the critical $126 support level. The immediate challenge for the altcoin is breaking past the $135 resistance before targeting the $148 level. A strong push above $161 would set the stage for a 40% rally to $180, which remains a crucial milestone for confirming a sustained bullish reversal.
There is only one sell wall on the way up to $280 for $SOL.
There is also a buy wall at the current price range. This buy wall provides support.
After breaking out of the falling wedge pattern and break through the sell wall at $180, only the previous high remains. pic.twitter.com/1z0xvkxnaa
— CW (@CW8900) March 13, 2025
However, failing to maintain momentum could expose Solana to downside risks. A drop below $126 would put the price in danger of slipping further toward $118 and potentially $109. If selling pressure increases, it could invalidate the bullish outlook, shifting momentum back in favor of the bears.
SOL Price Analysis. Source: TradingView – Techtoken
With Solana gaining investor interest, it’s essential for traders to remain cautious. The crypto market has seen an increase in scam emails targeting Coinbase and Gemini users, highlighting the importance of secure trading practices. As Solana attempts a breakout, staying updated on market trends and security risks is crucial for investors.
SOL about to send it!! 🔥🔥 $180 next up—break those highs and it’s LIFTOFF!! LFGGG!! 🔥🔥
— Trench Grinder (@Emunah_07) March 16, 2025
Will Solana Follow XRP’s Lead in Market Growth?
The crypto market has witnessed several surprising shifts recently. XRP, for instance, has surpassed Ethereum in fully diluted valuation (FDV), reflecting growing investor interest. Solana could potentially follow a similar path if demand continues rising. You can read more about XRP surpassing Ethereum in FDV and how market shifts impact altcoins.
Additionally, XRP’s recent liquidity proposal aims to unlock $1.5 trillion, boosting its market positioning. If Solana sees similar developments—such as institutional adoption or improved liquidity—it could help drive prices higher, making the $180 target more attainable.
For now, Solana’s price action remains in a make-or-break zone. If long-term holders continue accumulating and buying pressure increases, SOL may have the strength to push past resistance and rally toward new highs. Traders should keep a close eye on market sentiment and technical indicators to navigate the next potential move.
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