Solana Price Targets $167 as Recent Rally Signals Market Structure Change

Solana's price is currently stabilizing above the important support level of $117. A breakthrough above $147 could signal a significant shift in market structure, with potential upward movement towards $167.

Key Takeaways

Solana rebounds from a support zone, showing potential for a bullish trend shift.
The critical resistance level to watch is $147; a breakout here could indicate an end to the bearish trend.
Targeting $167 could represent a significant recovery in the Solana market.
Price action around these key levels will dictate the direction of future movements.

SOL price bullish swings emerge as recent rally shifts structure.

Analyzing Solana’s Price Movement

SOLUSDT (12H) Chart, Source: TradingView

Currently, the $117 support zone is proving to be a significant area on the Solana chart. This level aligns with higher timeframe support, the low of the value area, and the point of control, indicating a strong confluence point that may attract institutional investors. This development is noteworthy, especially amid ongoing discussions, like the Solana co-founder’s comments on why Jupiter’s $70 million buyback did not lift JUP's price.

The price has reacted decisively from this support zone, suggesting that selling pressure is diminishing and buyers are starting to engage more assertively. Instead of moving lower, Solana has managed to establish a base and initiate a rally from here. Such price behavior typically signals that downside momentum is slowing down, particularly after prolonged bearish trends. Holding above this support area further emphasizes its importance as a short-term anchor.

Improvement in Market Structure

While Solana's overall market structure has been bearish, the recent rebound could pave the way for a trend shift. The critical level to monitor is the $147 swing high, which marks the latest lower high in the downtrend. Until the price breaks this level, the bearish structure is technically still in play.

However, if there is a clean break and close above $147, it would signal a new higher high, indicating a structural shift from bearish to bullish. This transition would be significant, representing the first higher high following a series of lower highs, suggesting that buyers are starting to reclaim control of the market trend.

Potential Upside Toward $167 Resistance

Once a structural shift is confirmed, the next major upside target is set at $167, a key resistance level that has yet to be revisited. This level serves as a natural attractor for price movement following structural reversals, particularly when previous resistance zones have remained untested.

Moving towards $167 would signify a meaningful recovery from recent lows and reflect renewed bullish momentum across longer time frames. The intensity of the price movement toward this resistance will be crucial in determining whether Solana can continue its upward trajectory or shift into a consolidation phase.

What to Anticipate in Upcoming Price Movements

Currently, Solana is at a pivotal crossroads. As long as the price remains above the $117 support zone, the likelihood of a bullish market structure shift stays high. A decisive breakout above $147 would signal a new higher high and open the door for potential rally continuation towards $167.

Conversely, failing to reclaim $147 would maintain a neutral to bearish broader structure and increase the risk of price being stuck in a range. In the short term, Solana’s next notable price movement will be dictated by how it reacts around these crucial levels.