A detailed analysis of the Solana Liquidation Map shows that the cumulative long liquidation leverage stands at 149.56 million, while the short liquidation leverage is significantly lower. This imbalance suggests that bullish sentiment dominates the market as traders anticipate further upside for SOL.
The significant volume of long positions suggests that traders are betting on a near-term price increase driven by expectations of a favorable macroeconomic environment and continued institutional adoption of cryptocurrencies. This sentiment is further supported by the current price of SOL remaining close to the key support level of $145, where significant buying interest has been observed.
Given the strong support at $145 and bullish leverage positioning, there are two main reasons to expect Solana price to move higher in the coming days. First, the dovish US CPI data could lead to looser monetary policy and increase demand for risky assets like SOL. Second, increasing institutional interest, as evidenced by Grayscale’s recent moves, could drive fresh capital into the crypto market, providing additional support to Solana price.
SOL Price Prediction: All Eyes on $165 Resistance
Looking ahead, Solana price is likely to face resistance at around $165, a key psychological barrier that has proven difficult to overcome in the past. The Bollinger Bands and Chop Zone indicator suggest that SOL is currently in a consolidation phase and an upside breakout is possible if buying pressure increases.
The Bollinger Bands, which are currently narrowing, suggest that a period of low volatility is likely to be followed by a significant price move. If SOL can convincingly break the $150 resistance level, the next target would be $165, where the upper Bollinger Band is currently located.
