Solana Price Eyes Breakout Above $180 Resistance As Cup And Handle Pattern Forms
By: bitcoin ethereum news|2025/05/11 05:00:13
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Solana’s price is hurtling toward the $180 resistance mark at breakneck speed, sparking fresh belief in a breach. This time, investors have their eyes peeled on a textbook cup-and-handle pattern tipped to send SOL to a new all-time high. Solana Price Targets A Rally Beyond $180 Again Solana price is making a play to retest the $180 psychological level after previous attempts failed to breach the glass ceiling. According to an X post by pseudonymous cryptocurrency analyst Crypto Virtuous, Solana is approaching the “scary region” again. The last time Solana price tested the $180 level, prices took a hit and nearly fell below $100. However, after picking itself gingerly in a rally that sees it gain over 20% over the last week, the $180 psychological level is in sight yet again. A push to $180 is on the cards for Solana after DEX volumes surpassed $500 million in 2025. “This is a scary region but I’m sure we’re breaking this one this time,” said Crypto Virtuous. The crypto analyst is hinging his belief in Solana price breaching $180 on a classic cup and handle pattern forming on charts. The bullish pattern on the charts is stoking fresh enthusiasm for the Solana price, with Crypto Virtuous predicting a price spurt beyond $180. He argues that if prices breach the resistance formed by the cup’s rim, a big break toward $510 is a real possibility. Institutional Interest Surges Following A 52% Monthly Price Spurt According to CoinMarketCap data, the Solana price has spiked by 52% over the last month in a strong show of recovery. SOL’s weekly price performance reflects a similar spike for the asset, garnering 20% over the last seven days. While daily charts reflect a modest 2% gain, Solana price reached a 24-hour high of $179.62 as bulls tie their bootlaces to retest the $180 psychological level. Amid the impressive price performance over the last week, institutional interest in SOL is heating to a boil. For starters, SOL Strategies and DeFi Dev Corp have scooped over 200,000 SOL, sending their holdings above 395,000 SOL respectively. Apart from a frenzied accumulation spree, institutions are turning to Solana for enterprise utility, citing its speed and low fees compared to Ethereum. Robinhood is considering Solana for its ambitious plans to tokenize US stocks for its EU clients. Driven by renewed institutional interest and sky-high retail appetite, Solana’s monthly transaction volume has surged beyond 1.5 billion. ✓ Share: Aliyu Pokima Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/solana-price-eyes-breakout-above-180-resistance-as-cup-and-handle-pattern-forms/
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