Solana Bulls Monitor $190 Level – Is ATH Back?

Solana is trading at a critical level after several weeks of strong price volatility and tight consolidation around the current price level. After an impressive bullish increase of 80% from the lows in April, SOL is currently testing an important horizontal resistance zone that could determine whether the bullish trend continues or halts in the short term. The recent consolidation has allowed the market to cool down while still holding the bullish structure—a encouraging sign for traders looking to follow further movements. Top analyst Jelle has shared a technical analysis emphasizing that Solana is currently retesting an important previous horizontal level that acted as a resistance zone. Successfully flipping this level to support could provide the necessary momentum to aim for a new local high and potentially open the door for a complete recovery. While the overall market sentiment remains cautious amid broader macroeconomic instability, the recent strength of Solana stands out compared to other altcoins. Its ability to hold above key support during periods of volatility has positioned it as one of the better-performing assets in the current market cycle. If the buyers maintain control and trading volume returns in the next breakout attempt, Solana could be gearing up for another bullish move in the coming days. Solana consolidates as the market heads towards bullish expansion Solana is currently consolidating just below a key resistance level—the last major barrier before a potential breakout towards the weekly highs. After rising over 80% since its lows in April, SOL is showing significant strength compared to most altcoins. However, the market at large remains cautious, as Bitcoin continues to trade just below its all-time highs, leaving investors uncertain about the potential for a correction. Despite this uncertainty, the momentum across the cryptocurrency market suggests that the recent bullish may not just be a short-term recovery. Many analysts believe that this could be the beginning of a larger bullish phase, one that could bring significant gains if key resistance levels are cleared. The current consolidation of Solana is taking place just below a major technical ceiling—if the buyers can reclaim this zone, the path towards much higher price levels will open up quickly. Jelle reiterated this point in a recent post, emphasizing the importance of the $190 level. According to his analysis, "Above $190, all bets are off." Regaining that resistance level could confirm the breakout and drastically shift the sentiment in favor of the bulls. It would also put Solana back on track to test its all-time high.

Currently, SOL is staying tuned while the market waits for Bitcoin's next move. If BTC asserts its strength and Solana surpasses the $190 level, this could mark the beginning of a new bullish wave, not just for SOL but also for the altcoin market in general. The coming days could be pivotal. Technical details: Check the price of the main moving average Solana (SOL) is trading at $177.30, consolidating just below the important resistance level around $181, marked by the 200-day SMA. The daily chart shows that after a strong bullish move from the April lows, SOL has entered a phase of tight consolidation, forming a potential base for the next bullish move.

The EMA 34 line ($162,95), along with the SMA 50 and 100, all have a bullish trend and are stacked together in a bullish direction below the price, supporting the overall bullish structure. This indicates that the recent movement is supported by strong trend momentum and healthy pullback momentum. Volume has slightly decreased during the consolidation process, which is typical during a pause before a potential breakout. However, the 200-day SMA continues to act as a resistance level, limiting price increases multiple times over the past few days. A clear breakout and daily close above $181 could confirm the continuation of the bullish trend and pave the way towards the zone of $200–$220, aligning with the highs of the weekly range. Until then, SOL remains in a neutral to bullish setup. Staying above $170 and maintaining pressure at $181 will be crucial for buyers to maintain control. If BTC stabilizes or is bullish, Solana could be one of the first major altcoins to rise higher.