Solana Price Surge: Short Liquidations Propel SOL Towards $164 Resistance
Solana Surges Past $152 Resistance: Aiming for $164 and Beyond
SOL Price Breaks Key Resistance Level
Solana has successfully surpassed a significant resistance level at $152, signaling a potential upward trajectory toward $164. This bullish movement is supported by increasing staking activity, inflows from ETFs, and overall positive market momentum. The recent price action suggests that Solana is inching closer to solidifying its position among the leading cryptocurrencies, alongside bitcoin and ethereum.
Technical Analysis: SOL Eyes $164
The recent breakout above $152 has transformed this resistance into a new support level. After a period of consolidation within a symmetrical triangle, Solana’s price has decisively moved above the upper trendline. Analysts note that this breakout could pave the way for a move toward the next target of $164, which aligns with previous resistance levels. For this bullish trend to continue, it is crucial for Solana to maintain its position above the $152 to $153 range.
Short Liquidations Signal Market Shift
The cryptocurrency market recently experienced a significant shakeout, leading to the liquidation of over $460 million in short positions within a single day. Solana shorts alone faced liquidations totaling approximately $12.7 million as the price broke through critical resistance. This rapid liquidation indicates a swift change in market sentiment, as traders were forced to cover their positions amid rising prices.
Bullish Price Structure for Solana
Following the breakout and subsequent short squeeze, Solana’s price action is attracting attention from both analysts and investors. Currently, SOL is consolidating within the $150 to $160 range, which is being viewed as a potential launchpad for further upward movement. With the upcoming launch of new projects within the Solana ecosystem, there is growing optimism that this price range could serve as a solid foundation for future gains.
Record Staking Activity Reflects Confidence
As Solana’s price stabilizes above key resistance levels, the on-chain metrics are also showing positive trends. Recent data reveals that the total delegated stake has reached an all-time high of 3.83 million SOL, indicating a growing commitment from both retail and institutional investors. This increase in staking activity often signifies a healthier network, further supporting the bullish sentiment surrounding Solana.
ETF Inflows Indicate Institutional Interest
In addition to rising staking levels, Solana-linked ETFs are witnessing significant inflows. Notably, the newly launched $SSK fund attracted $20 million in a single day, contributing to a total of $80 million in inflows across three Solana-related ETFs over the past month. While these figures may still be modest compared to bitcoin and ethereum, the consistent inflows suggest a burgeoning interest from institutional investors in the Solana ecosystem.
Conclusion: A Promising Outlook for Solana
Solana’s recent price movements reflect a broader trend of increasing confidence in the cryptocurrency. With substantial short liquidations, record staking levels, and rising ETF inflows, the momentum appears to be shifting in favor of bulls. If SOL can maintain its position within the $152 to $153 range, the path toward $164—and potentially even $180—looks increasingly attainable.
