Altcoins News
By Evie Vavasseur
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Solana (SOL) is back in focus as its price edges closer to the $180 resistance level — a zone that has repeatedly proven difficult to breach since February.
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The broader structure of Solana's market is undeniably bullish. Over the past few weeks, SOL has climbed steadily, erasing much of the Q1 2025 downtrend.
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Solana’s Total Value Locked (TVL) has also played a role in fueling optimism. Over the past month, the TVL has climbed back to levels not seen since mid-February, despite SOL’s…
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However, not all signals point to a smooth path upward.
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Glassnode data reveals that there hasn’t been a significant uptick in whale accumulation in recent weeks.
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Meanwhile, a key on-chain indicator, the Spent Output Profit Ratio (SOPR), may be flashing a warning for short-term traders. As of this week, SOPR values have reached 1.
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In the past six months, whenever SOPR values hovered around 1.06 to 1.10, Solana’s price experienced noticeable pullbacks shortly after.
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From a technical analysis standpoint, the momentum remains strong. The Awesome Oscillator, a measure of market momentum, continues to print green bars above the zero line,…
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Still, the $180 level remains a historically tough resistance. Solana bulls will need to overcome this barrier convincingly to continue the rally.
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That wouldn’t necessarily be bearish. In fact, such a pullback could offer investors a healthier reentry opportunity, especially if OBV maintains its upward trend.
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In summary, Solana is showing all the signs of a strong recovery: bullish structure, rising on-chain value, and robust technical momentum.
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