Solana Price Eyes $160 Resistance Amid Bullish Sentiment

Solana (SOL) shows bullish momentum with a 15.93% gain over the past week, spurred by institutional support and AI developments.
RSI at 64.19 signals potential for further gains, with $160 resistance and $150 support levels key to Solanas price action.

Solana (SOL) has experienced a slight price drop, trading at $152. This represents a 2.06% decrease in the last 24 hours, equivalent to a decline of approximately $3.20. Despite this downturn, the cryptocurrency maintains a solid market capitalization of $78.48 billion. The 24-hour trading volume is $3.92 billion, reflecting a slight dip of 1.99%. Earlier in the day, SOL reached a high of $154.8 before retreating.

Solanas Price Surge Fueled by Institutional and AI Developments

Over the past week, Solana has gained 15.93%, which has spurred strong bullish sentiment in the market. Analyst DonAlt predicted that SOL could surge to $200, driven by increasing investor interest and favorable U.S. trade tariff dynamics.

Additionally, Solanas ecosystem shows signs of recovery, with market participants focusing on approving key institutional products. Solana is among the leading candidates for SEC ETF filings, and optimism is growing with the appointment of a new SEC chair. This has led to hopes that these filings may soon progress, opening doors for institutional adoption.

Moreover, Solanas price trends appear to be closely tied to advancements in AI. The networks high-speed, low-cost transaction capabilities make it an attractive platform for AI developers, particularly those building decentralized applications. Integrating AI-powered projects on Solana drives price increases, making it a top choice for decentralized AI applications.

Institutional support is boosting Solanas growth, with Kraken receiving $18.26 million in SOL and Sol Strategies securing $500 million for staking.

Pumpfun(@pumpdotfun) deposited 117,913 $SOL($18.26M) to #Kraken again in the past 2 hours.

So far, #Pumpfun has deposited 3,097,265 $SOL($575M) to #Kraken at $186 and sold 264,373 $SOL for 41.64M $USDC at $158.https://t.co/LwqXbrs7oc pic.twitter.com/gVUgW9E5T3
Lookonchain (@lookonchain) April 25, 2025

Solana Eyes $160 Resistance with RSI at 64.19

The Solana price chart currently shows signs of positive momentum. The Relative Strength Index (RSI) stands at 64.19, suggesting that the asset is nearing overbought territory, though its not in the extreme range. Meanwhile, the MACD indicator shows a positive divergence, with the MACD line above the signal line, indicating bullish market sentiment. The increasing trading volume also supports the ongoing uptrend.

Looking ahead, Solanas next key resistance level is $160. If SOL surpasses this level, it could target the $170 range. However, the key support level to watch is $150. A drop below this support could trigger a potential retracement to around $140. Thus, the next few days could be crucial for determining Solanas near-term price direction, with key levels at $160 and $150 to monitor closely.

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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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