Solana Breaks $150 Resistance Aiming for $165 High

Solana (SOL) has recently demonstrated a significant bullish trend, breaking through a key trendline and setting its sights on the $165 resistance level. The cryptocurrency initially faced a decline, retesting the $145 support zone, but has since recovered and is now poised for a fresh increase above the $150 mark. This upward momentum suggests that Solana is on track to surpass the $165 resistance, which could mark a new high for the cryptocurrency.

The recent price action indicates that Solana is gaining traction in the market, with bullish signals becoming more apparent. The break above the $150 resistance level is a crucial development, as it suggests that the cryptocurrency is overcoming previous resistance and is now in a position to challenge higher price targets. The $165 resistance level is the next major hurdle for Solana, and a successful break above this level could pave the way for further gains.

Solana’s recent breakout interrupts its series of lower highs, replacing the bearish channel with a new, short-term bullish structure. Traders are now turning attention toward the $160–$165 zone, where multiple June rejections created strong resistance. The broader market still lacks confirmation of a full trend reversal, but intraday signals are firming up.

After the breakout phase, market analyst Bluntz observed that Solana had cleanly pierced its downtrend overnight, noting that momentum could now accelerate into next week. According to Bluntz, the move above the trendline, combined with rising interest across the Solana ecosystem, indicates growing confidence among buyers. He also pointed to the bullish candle that carried SOL from $148.14 to $152.73, saying this structure disrupts the previous pattern of consistent lower highs.

Assessing Solana’s indicators, Bluntz adds that the Relative Strength Index (RSI) reached 61.23 intraday before settling near 57.08-neutral but leaning bullish. He believes this reading reflects increasing strength without signaling overbought conditions. Furthermore, tight spreads between $151.35 and $151.36 highlight active liquidity, which supports further upside attempts. While the asset remains far below its $200 April high, he suggests that reclaiming the $160–$165 area could open up a larger continuation window.

Solana traded between $149.50 and $152.80 throughout June 29, with early selling pressure quickly offset by midday recovery. Despite an initial drop below $150.20, SOL rebounded strongly by 14:00 UTC before retreating again. The session closed around $150.70, maintaining structure above key support. Volume remained constant with no major inflows or outflows, showing balanced participation rather than speculative spikes. The historical context also shows that since 2024, Solana has created a more stable base, with lower volatility and decreasing excess volume. The latest consolidation phase is a sign of a mature chart that’s slowly moving towards higher lows.

What matters next is whether Solana can defend the $150 breakout zone and test higher resistance at $165. As Bluntz implied, the higher low and trendline break could continue attracting momentum traders. However, failure to hold above $150 could bring $140–$145 back into view as support. Solana’s structure now leans bullish, but remains sensitive to rejection.

The bullish momentum in Solana is driven by several factors, including increased adoption and growing interest from investors. The cryptocurrency's technological advancements and scalability have made it an attractive option for developers and users alike, contributing to its recent price appreciation. Additionally, the broader market sentiment towards cryptocurrencies has been positive, with many investors looking to capitalize on the potential gains in the sector.

As Solana continues to gain momentum, it is important for investors to monitor the cryptocurrency's price action closely. The $165 resistance level is a key level to watch, as a successful break above this level could signal further gains for the cryptocurrency. However, it is also important to be aware of potential risks and challenges, as the cryptocurrency market can be volatile and unpredictable.

In conclusion, Solana's recent price action indicates that the cryptocurrency is on track to surpass the $165 resistance level, driven by bullish momentum and growing interest from investors. While there are potential risks and challenges to consider, the current outlook for Solana is positive, and the cryptocurrency could be poised for further gains in the coming weeks and months.