Solana Surges 3.5% in 24 Hours, Eyes $185 Resistance

Solana (SOL) has recently shown strong bullish signals, with the token surging by 3.5% in the last 24 hours to trade around $163.76. This marks an 11.74% gain since the start of July, outperforming several top altcoins in this mini crypto rally. The token has shown significant momentum, breaking above the $155 zone and consolidating gains. However, it may face resistance at the $160 mark, a level that has historically posed challenges for price rallies.

Analysts are closely monitoring the $175–$185 resistance zone, which has previously acted as a barrier to price increases. According to the analyst's forecast, a moderate rally toward $168 or $185 is possible, given the current chart patterns. This forecast is supported by the token's recent performance, which has seen it rise beyond $155 and consolidate gains.

The potential for further growth is also influenced by the macro uptrend, which, if intact, could see SOL continue its ascent toward the $185–$190 range. This continuation is plausible following an ABC correction, a technical pattern that often precedes a resumption of the uptrend.

Key resistance levels to watch include $159 and $185, which have been identified as critical points that could determine the token's future trajectory. While the possibility of reaching $400 this month is considered unlikely, the current trends suggest that SOL has the potential for moderate growth in the near term.

Veteran financial advisor Matthew Dixon believes a short-term pullback or sideways consolidation could occur soon. Sharing his Solana chart on X, Dixon said the current price structure resembles a classic Wave 4 formation, which might temporarily push SOL down to the $152–$158 range. However, Dixon remains bullish in the medium term. He says if SOL stays above the $150 support zone, it could ignite Wave 5, targeting $175 or even $185, based on past resistance and Fibonacci extension levels.

Dixon warns that if Solana falls below $145–$148 with strong volume, the bullish trend may be invalidated, triggering a complex correction instead of a rally. Solana is riding strong bullish momentum, with short-term consolidation likely before a potential surge to $185. But all eyes remain on the $150 support—a key level that could make or break the rally.