Bulls Eye $170 Target As Major Resistance Looms At $150

TLDR

• Solana price is testing critical resistance at $150, supported by rising global liquidity and increasing open interest
• Upexi Inc. purchased 45,733 SOL tokens worth approximately $100 million, showing strong institutional confidence
• SOL recently bounced off support zones between $134-$140, suggesting a potential bullish reversal
• Technical indicators point to possible targets between $170-$185 if SOL breaks above current resistance
• A critical security vulnerability was successfully patched, with the Solana Foundation confirming all funds are safe

Solana (SOL) is currently trading around $146, holding steady after a period of strong upward movement. The cryptocurrency is approaching a critical resistance level at $150, which has captured the attention of investors and traders alike. Recent market data shows promising signs for a potential breakout that could send SOL prices climbing toward higher targets.

The price action of SOL has demonstrated strength recently. It bounced off support zones between $134 and $140, suggesting a potential bullish reversal pattern is forming.

At press time, SOL was testing the upper boundary of a descending channel. This pattern often occurs before upward price movements.

Technical analysts suggest that a break above the $150 resistance level could open the path to further gains. Targets between $170 and $185 are considered realistic in the short term.

Some more optimistic projections even point to potential longer-term targets of $260 and $320, though these would likely require sustained bullish momentum.

Global Liquidity Fueling Growth

Recent increases in global liquidity are creating favorable conditions for risk assets like Solana. The rise in M2 money supply, which tracks the total money in circulation, has historically been correlated with price growth in cryptocurrencies.

SOL price movements have shown a strong correlation with this uptick in global liquidity. As the money supply expands, speculative activity typically increases, potentially driving asset prices higher.

This boost in liquidity could help SOL break through its current resistance levels. The established correlation between rising global liquidity and bullish market conditions suggests strong upside potential.

The increase in open interest in Solana futures also supports this bullish outlook. Open interest, which measures the number of outstanding futures contracts, has been rising alongside SOL’s price since early 2024.

As SOL’s price surged from $50 in early 2024 to around $146 by May 2025, open interest saw a corresponding rise. This reflects growing trader confidence in the asset’s future performance.

$SOL #Solana vs M2 Global Liquidity (M2 Global Money Supply)

BULLISH CHART!
SOL COULD PUMP AT ANY TIME 🟢📈 pic.twitter.com/JG9JdlALtb

— Bull Bear Spot (@m2globalmoney) May 1, 2025

When both price and open interest increase together, it often indicates that traders are not only confident in the price direction but are also committing more capital to the market.

Institutional Interest Grows

Institutional investments are becoming a major sign of confidence in Solana’s future development. NASDAQ-listed company Upexi Inc. recently purchased 45,733 SOL tokens through its treasury management.

The value of this purchase was approximately $100 million, proving institutional appreciation of Solana’s worth. This marks one of the most important institutional investments in SOL to date.

In another show of institutional interest, BitGo announced a collaboration with SOL Strategies to expand Solana staking activities. BitGo’s security architecture will be combined with SOL Strategies’ expertise in running institutional-grade Solana validators.

This partnership is particularly important given the growing institutional demand for Solana staking following the approval of Solana futures ETFs in the United States.

BitGo, a digital asset qualified custodian serving more than 2,000 clients across 90 countries, acknowledged SOL Strategies’ expertise in running high-performance Solana validators certified under ISO-27001.

Whale activity also shows confidence in SOL. On-chain data reveals that one large holder recently staked almost 194,000 SOL (approximately $28.7 million), showing strong conviction in Solana’s long-term viability.

Solana’s network performance in Q1 2025 has been impressive. Based on Glassnode data, SOL exceeded all other blockchain systems—including Ethereum—in terms of protocol revenue for the quarter.

This success highlights Solana’s increasing economic activity and monetization, suggesting that despite market volatility, the network’s fundamentals are improving.

A recent security challenge was handled efficiently by the Solana team. A zero-day vulnerability discovered on April 16 might have allowed attackers to create false proofs affecting Solana’s Token-22 secret tokens.

Development companies Anza, Firedancer, and Jito led the patch deployment, and the Solana Foundation verified that the vulnerability has been corrected. All funds were confirmed safe with no known exploitation of the vulnerability.

The current price action of SOL, combined with institutional backing, technical strength, and improved network fundamentals, positions Solana for potential continued growth as it tests the crucial $150 resistance level.