TLDR:

Solana (SOL) trades near $155 resistance, a breakout level linked to past upward surges.
On-chain activity hits record highs with 70M+ transactions, reflecting rising demand.
SOPR dips below 1, suggesting weak hands may be out and market may be stabilizing.
MACD flips positive, aligning with falling wedge setup and bullish price momentum.

Solana (SOL) is showing strong signs of building momentum after a prolonged period of consolidation. 

The crypto is trading around $152.85, as it hovers just below a major resistance level at $155. Recent on-chain and technical indicators point to potential upside movement. Increasing transaction activity and a shift in trader sentiment are adding fuel to the bullish setup. 

Market watchers are now closely monitoring whether Solana will break out or stall again.

Solana Resistance at $155 Could Trigger Rally

SOL is currently testing a crucial resistance level at $155. 

According to a chart analysis shared by Wise Crypto, the asset has been trading within a falling wedge pattern. This structure signals a trend reversal when the price breaks upwards.

If SOL manages to move beyond $155, analysts suggest it could quickly rise toward $169. The chart also indicates that price action has respected several key support levels, with firm bases at $144.95 and $140.36.

$SOL just flashed a 5-year bullish signal!

Tx count > 70M (highest since 2020 bull run)
Price lagging — stuck at ~$151
SOPR < 1 = capitulation cooling
MACD flipped bullish
Falling wedge intact — breakout above $155 could ignite rally to $169+

Is $SOL loading… pic.twitter.com/1kYNMTLfnX

— Wise Crypto (@WiseCrypto_) July 9, 2025

Solana’s network activity has seen a sharp rise, with transaction count surpassing 70 million. This is the highest volume recorded since the 2020 bull cycle. Such growth signals rising demand and increasing use of the network. 

Additionally, the Spent Output Profit Ratio (SOPR) has dipped below 1, suggesting capitulation may be easing. This typically indicates that weaker hands have exited, and the market could be stabilizing.

Solana Technical Indicators Turn Bullish

Momentum indicators are reinforcing the bullish outlook. The MACD has flipped into positive territory, suggesting a possible trend change. 

Combined with the falling wedge formation, this shift supports the potential for an upward move. According to Wise Crypto’s interpretation, the setup appears similar to historical patterns that preceded strong rallies. 

Volume and buying interest are starting to align with this structure.

Solana’s next big move will likely depend on whether it can clear the $155 resistance. Failure to do so may lead to another phase of range-bound trading. 

However, a successful breakout could open room for rapid gains, possibly toward $169 or beyond. As of now, SOL has gained 2.43% in the last 24 hours and 2.14% over the week, according to CoinGecko data.

SOL price on CoinGecko

The post Solana Flashes Five-Year Bullish Signal as Price Eyes Key Breakout Level appeared first on Blockonomi.

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Filed under: Bitcoin - @ July 9, 2025 7:19 am