Vlad Hryniv

$SOL made a strong comeback, surging by 24.4% in a single day, reclaiming the $180 mark after a tough few weeks. Analysts are eyeing a potential resistance around $213 as the next target. This bullish move was boosted by Trump’s endorsement of Solana for the Strategic Reserve, alongside a massive 480% volume spike, hitting $14 billion—signaling strong buying pressure and optimism for more upside. 📈💥

However, the rally didn’t last long. 😕 After hitting $180, SOL faced a sharp retracement, dropping below its pre-election levels. With a key demand zone forming at $130, Solana managed a 46% recovery in under a week. But now, it’s down almost 20% again, trading under $140. 📉

What’s Next for Solana? 🧐

The big question: Can SOL break out above $200? To confirm a breakout, Solana needs to reclaim $180 and establish higher lows. But if it dips below $170, the short-term outlook may get even weaker, increasing the chances of a deeper retracement.

📊 Technical Concerns:

- SOL’s inability to hold $180 has raised concerns among bulls.

- Spot accumulation remains weak, with more exchange inflows than outflows, suggesting increased selling activity.

- Open Interest (OI) has jumped by 15.8% to $5.05 billion, showing rising speculative interest, but spot demand doesn’t align.

This imbalance could lead to liquidation cascades and deeper retracement, potentially sending Solana back to the $130 support level. ⚠️

Stay alert, as Solana’s next moves could set the tone for its future. 🔍💡

📊 WhiteBIT Chart: SOL/USDT (1D)