Solana Gains 1.25% Daily, Eyes $170+ Breakout

Solana (SOL) is currently trading at $151.86 USDT, marking a +1.25% daily gain and a +2.48% increase over the past week. The cryptocurrency holds a market capitalization of $81.35 billion, ranking it sixth by global crypto market cap. Despite being 48.2% below its all-time high of $293.31, SOL has seen a remarkable appreciation of over 30,000% from its historical low, indicating strong long-term support.

Technically, Solana is in a gradual upward channel, with support at $147–$148 and resistance between $153–$156. A daily close above $156 would signal a breakout from its local compression range, with potential upside targets at $163, $171, and $186 if bullish momentum is sustained into mid-July. Should momentum stall, pullbacks toward $144 or even $138 would remain structurally bullish as long as the ascending trendline holds.

Momentum indicators are showing signs of recovery, with the Relative Strength Index (RSI) holding above 55 and the Moving Average Convergence Divergence (MACD) turning positive. Rising trading volume across major exchanges, particularly on Binance, KuCoin, and OKX, further signals strength in the market.

Solana has been added to the Crypto Blue Chip ETF filing, alongside other major cryptocurrencies like Bitcoin, Ethereum, XRP, and CRO. This inclusion reinforces Solana’s appeal in the institutional product market, potentially boosting its adoption and value.

The Solana ecosystem is experiencing renewed activity, with increased transaction volume in memecoins like BONK and WIF. Additionally, Pump.fun clones on Solana have surpassed Ethereum in active daily contracts, indicating growing interest and usage within the Solana network.

Infrastructure upgrades continue to enhance the Solana ecosystem. Solang, a new compiler, now allows Solidity-based smart contracts to run on Solana without using Rust, significantly expanding developer accessibility. Validator decentralization efforts are also underway, with clients like Firedancer, Jito, and Sig running, which reduces the risk of single points of failure and enhances network robustness.

On-chain DeFi volume is recovering, with protocols like Jupiter, Drift, and Meteora leading the way. The rise in DePIN interest, including projects like Helium and Render, further reinforces Solana’s non-financial use case momentum.

Solana is at a technically bullish pivot, with momentum indicators recovering and infrastructure upgrades enhancing its ecosystem. If it sustains the current range and breaks above $156, SOL could enter its next expansion phase toward $170+.

Short-term volatility remains tied to broader crypto market conditions and Bitcoin’s direction. However, structurally, SOL continues to build strength across all core verticals, including scalability, developer access, and token velocity.