Solana Price Surge: $180 Key to Next Bull Run?

Solana (SOL) is experiencing a significant price rally, breaking above $175 and approaching the crucial $180 resistance level. This surge follows Bitcoin and Ethereum's recent gains, with Solana's price increasing over 20% in the past week. Analyst Big Cheds highlights the importance of the $180 level, noting that reclaiming this zone, currently near the 200-day moving average (DMA), could trigger a substantial upward continuation. The $180 zone previously acted as resistance, making its recapture a pivotal moment for confirming a bullish trend reversal. A successful break above the 200DMA would further reinforce this bullish outlook, potentially leading to new highs. However, risks remain. A rejection at $180 could result in a pullback towards the $160 support level, particularly if broader market conditions worsen or profit-taking ensues. The current price action showcases strong momentum, with volume also increasing significantly, indicating rising trader interest. The $180-$185 resistance zone will be key in determining whether Solana maintains its upward trajectory or experiences a short-term correction. The technical analysis suggests a potential continuation towards $200 and even a retest of February highs above $260 if the $181.10 level is decisively broken with volume confirmation. Conversely, failure to surpass this resistance could lead to consolidation below the 200-day SMA. Overall, while bullish momentum is evident, the coming days will be crucial in confirming whether this rally is sustainable. The geopolitical climate and macroeconomic uncertainty still present risks to the market's overall trajectory.

(Source: https://www.newsbtc.com/news/solana/solana-rallies-into-pivotal-zone-180-level-could-define-next-move/)