Solana (SOL) Struggles to Break $181 Resistance as Bulls Push for Breakthrough

Solana (SOL), crypto's fifth-largest player by market cap, is battling with a stubborn resistance level at its 200-day SMA of $181, while bulls try to ride the momentum of the broader market rally.

SOL Price Hits Wall at $181 Despite Recent Market Momentum

Solana finds itself at a make-or-break point as it tries to capitalize on the market's recent upswing. After bottoming out at $113 on April 7, SOL has been steadily climbing back. Looking at the bigger picture, Solana jumped an impressive 25% between May 6 and May 10, riding the altcoin wave that followed Bitcoin's historic break above $100,000. But there's a problem – SOL just can't seem to hold prices above $180, repeatedly failing to punch through the critical resistance marked by its 200-day Simple Moving Average at $181.

For the last five days, Solana has been banging its head against this ceiling without making a clean break, suggesting some hefty selling pressure up there. Since May 10, SOL has been pressing against this daily SMA 200, desperately trying to break through. This push led to peaks of $184.80 on May 13, but Solana couldn't hold the gains as bears showed up in force to defend this line in the sand.

Solana Bulls Take Another Shot as Wallet Growth Shows Bullish Undercurrent

As of press time, SOL is trading at $177, up a modest 1.82% in the last 24 hours, with bulls making yet another attempt to clear that stubborn daily SMA 200 hurdle. The price briefly touched $184.86 but couldn't stick the landing and pulled back again. Despite these technical hurdles, there's good news on Solana's fundamental front. Crypto analyst Ali points out that wallets holding at least 0.1 SOL have grown to an impressive 11.04 million over the past two weeks – a pretty solid sign of growing adoption and confidence.

While Solana seems stuck in neutral near that pesky $181 resistance, it's worth noting that bulls haven't given up much ground to the bears – a positive sign suggesting there's some real strength behind the current price action. This resilience hints that buyers aren't backing down despite the temporary roadblock at the key resistance level.

SOL Finally Reclaims Key Moving Average After Months in the Doghouse

Another bright spot for Solana bulls is their successful recapture of the daily SMA 50 at $139.64, a level that has kept a lid on SOL prices since December 2024. An earlier attempt to break this moving average failed miserably back in January, with Solana quickly retreating below it. Things got worse in February when SOL lost the daily SMA 200, flipping what was once solid support into a tough resistance barrier.

This recent climb back above the daily SMA 50 means Solana has passed its first major test, potentially setting the stage for a bullish trend reversal. But the next challenge – and it's a big one – sits at that daily SMA 200 at $181, the very level that's giving buyers such headaches right now. If SOL can finally break and hold above this technical barrier, it could dramatically shift the outlook from "meh" to "moon."

What's Next for Solana? Key Levels to Watch as Bulls and Bears Duke It Out

If determined buyers can finally muscle the price above the daily SMA 200, Solana could potentially rally toward the $210 mark – a level that would represent a serious comeback from April's lows. This would confirm a broader trend reversal and likely attract fresh money into SOL.

On the flip side, immediate support for SOL now sits at $168. If bears push the price below this floor, we could see Solana slide down to test support around $155. Things would get really dicey for bulls if sellers manage to knock the price back below the daily SMA 50 at $139, which would basically erase all the recent bullish momentum and potentially trigger a deeper pullback.

SOL at a Crossroads: Breakout or Fakeout?

Solana now stands at a critical junction, with its next big move largely depending on whether it can finally conquer that resistance at the daily SMA 200. The repeated tests of this level show strong buying interest, but the equally strong rejections show that sellers aren't backing down either. This tug-of-war between bulls and bears at this key technical level will likely determine where SOL heads in the coming weeks.

Given Solana's impressive growth in user adoption and its solid position as the fifth-largest crypto by market cap, many investors remain optimistic about its prospects. However, the current setup suggests that SOL needs to clear this immediate hurdle before it can really get its groove back. Smart traders are keeping a close eye on the $181 level, knowing that a decisive break above or rejection from this point could set the tone for Solana's next major move.

The big money is watching this standoff at the key moving average closely, knowing that however this battle plays out will likely determine whether Solana can reach for new heights or needs more time to consolidate before making its next meaningful advance.