The post Solana’s Market Resilience Suggests Potential for $200 Breakout Amid Long-Term Accumulation Trends appeared on BitcoinEthereumNews.com.

As crypto markets rally, Solana [SOL] showcases remarkable resilience, establishing itself as a frontrunner in recent digital asset performance. Solana is flexing serious muscle this month, surging 15% and stealing the spotlight as a standout performer. SOL’s march toward $200 is looking less like speculation and more like structural progression. Solana’s [SOL] dry run to $95 on the 8th of April, following a sharp 64% quarterly drawdown, was a textbook case of aggressive “dip-buying.” In other words, an early signal that buyers were ready to step in at value zones. Fast forward to mid-Q2, and SOL has clawed its way back to price levels seen in early March, showing the market is now in a net profit state. Despite this rebound, a full-scale pullback has yet to materialize. Instead, price remains range-bound below the $150 overhead supply wall. Typically, this kind of sideways action, especially when profits are on the table, screams conviction. Market participants appear more inclined toward capturing future upside than realizing short-term gains. In this context, Solana’s behavioral resilience may be laying the foundation for a $200 breakout to emerge as the new base case. Resilience in the face of resistance Solana’s 15% weekly rally might hit a speed bump in the coming days. Why? First, SOL is charging toward the $150 supply wall, a critical liquidity resistance area. Typically, when assets get close to a ceiling, portfolio reshuffles and profit-taking are par for the course. And the data backs it up. SOPR (Spent Output Profit Ratio) remains elevated above 1, indicating that market participants are realizing profits. Concurrently, NRPL (Net Realized Profit and Loss) turned green following SOL’s breakout above the $130 resistance level on the 12th of April, showing that the market is now, on average, in the money. Source: Glassnode Meanwhile, Pump.fun is back…

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Filed under: News - @ May 3, 2025 9:11 am