The cryptocurrency market remains highly responsive to global economic trends, with Solana (SOL) showcasing impressive resilience amid ongoing trade uncertainties worldwide. Recently, SOL’s price chart revealed a strong upward trajectory, characterized by higher lows and higher highs, and breaking through critical resistance levels. This momentum is supported by institutional-grade trading volume, indicating active accumulation despite a brief correction of approximately 1.35% in the past hour.
Analysts are closely watching the $166.82 mark as a vital short-term pivot point. If SOL can sustain its upward movement and stay above the $177 resistance level, there’s significant potential for a substantial rally.
Technical highlights include SOL’s recent price movement from a low of $159.69 to a peak of $173.03, spanning a range of over $13 (around 8.35%). The price action confirms a clear uptrend with higher lows and higher highs, with notable buying interest around the $167-$170 zone, evidenced by above-average trading volume. Support has been firmly established at approximately $160.34, where buyers stepped in with conviction during early trading hours.
In the last four hours, trading volume spiked beyond the 24-hour average, suggesting institutional investors are actively accumulating SOL. A slight correction occurred in the past hour, dropping from $172.19 to $169.87—a 1.35% decline—briefly testing the $170 psychological support level, which initially held before giving way. As the final half-hour approaches, decreasing volatility and volume hint at potential exhaustion among sellers, possibly setting the stage for renewed upward movement.
Overall, Solana’s recent price action, combined with strong volume signals and key support levels, indicates a promising outlook for traders and investors looking to capitalize on its resilience amid the current economic landscape.
