Solana (SOL) Surges 17% in a Week, Bullish Momentum Intact

Solana (SOL) has experienced a significant surge, rising 17% in the past week, and is showing strong technical momentum across multiple indicators. The Ichimoku Cloud chart for sol remains firmly bullish, with the price well above the cloud and key support lines holding steady. This bullish structure is further confirmed by the Leading Span A being above Leading Span B, indicating a positive trend. Additionally, the price consistently holds above the Tenkan-sen and Kijun-sen, which suggests that short-term and medium-term support levels remain intact. The Lagging Span is positioned above both the price and the cloud, reinforcing the bullish bias. The wide gap between the current price and the cloud suggests strong bullish momentum with minimal resistance in the near term. As long as the price remains above the cloud and key support lines, the trend remains clearly upward.

Despite the strong momentum, there are concerns about a possible sell-off following SOL’s rapid price surge. Large transfers and unstaking from major wallets, including FTX/Alameda and Pump.fun, have sparked fears of a potential market correction. However, the BBTrend indicator has surged sharply from -0.41 to 16.76 in just two days, indicating a strong shift from a consolidating or bearish phase into clear bullish territory. This sharp move signals that SOL has entered a phase of expanding momentum. The BBTrend has stabilized around the 16.7 level over the last several hours, suggesting that the strong bullish impulse may now be consolidating. This could imply two potential scenarios: continued upward movement if momentum builds again, or a cooling-off period as traders assess recent gains. The sustained high BBTrend value reflects strong trend strength, and unless there’s a sharp reversal, SOL’s price action will likely remain favorable in the short term.

Solana price is trading just below a key resistance level at $180.54, a zone that has capped its upward movement in recent sessions. The EMA lines show a clear bullish structure, with short-term averages positioned well above the long-term ones and maintaining healthy separation, indicating a strong and sustained uptrend. If SOL breaks through this resistance and maintains momentum, it could climb toward $205, marking its first move above $200 since February 10. A continued breakout beyond that could take the price to $220, representing a possible 24% upside from current levels. On the downside, traders should watch the $160.78 support closely. A breakdown below that level would signal weakening momentum and push SOL to $147.6. If bearish pressure intensifies and support fails, the next key level sits at $140.4.

Ask Aime: "Has SOL really broken through its resistance at $180.54?"