Solana (SOL) is showing calm after a stormy ride. Trading at $160.66 with a 4.5% daily rise, it’s up in volume, $3.43 billion in the last 24 hours. But zoom out, and the weekly chart tells another story, SOL’s down nearly 9% over seven days, trading in a tight band between $154 and $161.
Additionally, Crypto analyst AgentXBT points to a market in wait mode. Momentum has dipped (-4.51%), yet the ADX reads 83.4, a sign of potential fire ahead. RSI sits near 41, suggesting no clear direction. A breakout is due, but timing remains the question.
SOL price resistance at 161 tested repeatedly
Current resistance stands at $161, a zone that’s been tested repeatedly without breaking. Analysts say $163 is the breakout line, get past that, and SOL could sprint toward $176. On the flip side, lose support at $154, and a sharp drop to $141 could follow.
Furthermore, for traders, it’s all about strategy. Low volatility and strong liquidity create space for position building. Long entries around $154 with tight stops under $150 are favored. Shorts below $150 could work, targeting $141. Risk? Keep it low, 1-2% per trade is wise.
Solana’s partnership with Dubai’s Virtual Assets Regulatory Authority
Beyond the numbers, Solana’s destiny is getting shaped in boardroom meetings. A fresh MOU with Dubai’s Virtual Assets Regulatory Authority has the potential to alter Solana’s footprint around the world. In addition, the Solana Economic Zone designed for Dubai is intended to be a flagship of Web3 to attract various startups, developers, and founders.
Moreover, price predictions for 2025 are somewhat divided. According to DigitalCoinPrice, Solana would cross $370 and thus surpass its previous all-time high of $294.33. Changelly takes a more conservative approach and predicts that prices would be capped near $160.80 with low returns. Mid-2025 estimates lie around $164 which is a quiet steady path unless some breakout happens.
