Solana's 58% Gain Faces $160 Resistance Test

Solana has demonstrated resilience by holding above the $145 level, maintaining a bullish structure despite recent market volatility. However, the cryptocurrency has struggled to decisively break above the $155 resistance zone, a key level that could pave the way for a broader rally. The current price action favors buyers, but the inability to push higher suggests that a retracement may be imminent if momentum continues to wane.

Top analyst Jelle shared insights on X, noting that Solana’s monthly candle “is not looking too shabby.” According to Jelle, SOL managed to close the candle back above the consolidation lows, a positive technical signal indicating resilience and potential for continuation. This technical strength sets the stage for a possible retest of the $240 level, a target that aligns with historical resistance and previous price action.

Traders remain cautious, with many watching the $155–$160 area as the next significant hurdle. A confirmed breakout above this zone could signal a move toward previous highs, while continued rejections might trigger a healthy correction into lower demand levels. With global markets still grappling with macroeconomic uncertainty, the next few sessions will be crucial for SOL. Bulls must act quickly to defend current levels and reclaim higher ground if they want to keep the trend in their favor.

Solana is currently trading at a critical level that could serve as a major pivot point for either a strong bullish recovery or a continuation of the broader bearish trend. Since early April, Solana has climbed over 58%, recovering significantly from its local low near $95. This upward movement has helped shift short-term sentiment, but the price now faces a key test at the $160 resistance level. A clean break and hold above this zone could open the door for a larger rally, potentially taking SOL toward its previous highs.

Jelle’s optimistic analysis highlights that Solana’s latest monthly candle is showing strength. According to Jelle, SOL took out all the consolidation lows and still managed to close the month back above them—typically a bullish sign. This sets the stage for a possible retest of the $240 level, a target that aligns with historical resistance and previous price action.

However, failure to clear $160 could lead to renewed selling pressure, especially if global macro conditions worsen. For now, bulls must defend current levels and aim for a breakout to maintain momentum. Solana (SOL) is currently trading at $147 after several days of struggling to break above the recent high of $157. Bulls have maintained control in the short term, but momentum appears to be fading as price action continues to stall below the key $160 resistance zone. This level remains a crucial barrier that needs to be reclaimed decisively to confirm a continuation of the uptrend.

To sustain the bullish structure and avoid a deeper retracement, SOL must push through $160 and target the $180 level next. A successful move above this range would not only restore confidence but could also set the stage for a stronger recovery in the broader altcoin market. However, the longer Solana fails to break higher, the greater the risk of a pullback. If bulls lose momentum and selling pressure builds, a correction into the $130–$120 zone becomes increasingly likely. This area has previously served as a key demand zone and could offer support if tested again.

For now, all eyes are on SOL’s ability to reclaim $160. The next few sessions will be critical in determining whether Solana resumes its upward trajectory or enters a consolidation and correction phase. The current price action and technical indicators suggest that Solana is at a pivotal moment, with the potential to either break through key resistance levels or face a significant correction. The outcome will depend on the ability of bulls to defend current levels and push through the $160 resistance zone, which could set the stage for a move toward the $240 target.