Solana (SOL) Eyes $180 as 7% Surge Sets Up Rally to End May

In what was a massive surprise for many investors, Solana (SOL) is nearing the $180 mark with a 6% surge setting off its start of the week. Indeed, the asset is set to approach May’s final month with momentum. But can it hold?

Solana Price Analysis: $180 Breakout Imminent?

Solana price surged over 50% in a month, and now it is trading near the critical $180 level. Analyst predicts Solana could break the $180 resistance, signaling a major rally and potentially new all-time highs for the cryptocurrency. This surge is supported by strong technical indicators and liquidity inflows, as well as an increase in DeFi dominance, which indicates a potential bullish continuation.

However, some analysts remain cautious. Solana’s recent 7% rally reflects broader market recovery but lacks demand-driven momentum. Bearish divergence in Solana’s Chaikin Money Flow (CMF) signals weak underlying strength and a possible correction after reaching $180. Keep a close watch on volume and CMF to gauge the true strength of this rally.

Will Solana successfully close above $180 and continue its upward trajectory, or will profit-taking and broader market sentiment halt its progress? Stay tuned for updates as we monitor Solana's performance throughout the rest of May.