Solana Price Prediction: Will SOL Price Surge Reach $160 TODAY?

Solana (SOL) is experiencing a strong bullish run, with its price climbing over 6% in the last 24 hours. This momentum is pushing SOL closer to the $160 resistance mark, driven by active buyer activity and market optimism. Will it be reached today, and if so what is the next target for SOL price?

Solana Price Analysis

SOL Performance and Market Indicators

Currently, Solana's price stands at approximately $152, marking a 6% increase. Its market capitalization exceeds $71 billion, with a trading volume surpassing $2 billion—both figures have seen significant gains in the last 24 hours.

SOL Technical Analysis

On the 4-hour chart, SOL’s price has surged above the 100-day Simple Moving Average (SMA) and a bearish trendline, maintaining its bullish momentum. The 4-hour Relative Strength Index (RSI) indicates continued bullish sentiment, trending towards the overbought zone.

Similarly, on the 1-day chart, SOL has broken above a bearish trendline and the 100-day SMA. The 1-day RSI supports this upward trend, signaling potential sustained bullish movement towards the $160 resistance mark.

Solana Price Prediction: $160 on the Horizon

SOL Resistance and Support Levels to Watch

With the current market uptrend launched this Monday, mid-July, Solana might be the best performer by now. With these numbers skyrocketing, here are the levels to watch out to when it comes to SOL price:

• Resistance Levels: Should SOL break the $160 resistance, it may aim for the $188 and $205 levels.
• Support Levels: If SOL retreats from $160, it could fall back to the $118 support level, with potential further declines to $99.