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Solana Price Targets $200 After Explosive Cup-Handle Breakout
By: tronweekly|2025/05/16 16:15:04
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Solana’s price tests major $170-$185 range as bullish breakout versus pullback risk continues. A confirmed breakout through $200 could send SOL to $220 and all-time highs. Solana dApps made $1.16 billion in Q1 2025, highlighting solid ecosystem fundamentals in the face of recent downturns. Solana (SOL) has caught the crypto market’s eye again, testing key levels after hitting $184. The token struggles to hold above the $170 zone, sparking debate between bulls and bears. While some foresee a strong rally, others warn of a pullback due to potential overheating from recent gains. Market sentiment is split, but optimism lingers as Bitcoin and Ethereum fuel altcoin momentum. Traders are closely watching Solana’s price structure, noting how $170–$185 has become a pivotal region. Bulls view it as consolidation before another breakout, while skeptics point to overbought conditions that may soon lead to short-term corrections. Solana’s Potential for New All-Time Highs Crypto analyst Ali (@ali_charts) also observes a notable cup-and-handle formation starting on Solana’s chart. A clean breakout above $200 would validate this classic bullish setup, indicating continuing upward strength and expanding investor enthusiasm, that may trigger further purchases and propel prices still higher. Investors have set $200 as a psychological and technical tipping point. If SOL stays above this point, many expect further swift gains. A breakout would be expected to confirm the bullish case, possibly driving the token into new all-time highs, subject to maintained volume and market support. Additionally from price action, Solana’s ecosystem fundamentals also stand as a reliable tailwind. Solana dApps in March 2025 last made $146 million in revenue—46% of total Web3 dApp income. While that is down from $650 million in January, this is a welcome cooldown. Areas of memecoins and DEXs declined but are indicative of increased market maturity. Potential Breakout Levels $200–$220 Range Despite the dip in March, Q1 2025 was historic for Solana. Total dApp revenue for Solana-based applications reached $1.16 billion—the all-time quarterly high. It was driven byJanuary and the first couple of weeks of February, cementing Sol’s position as a high-performance platform for Web3 and decentralized applications. Now, SOL is trading near $170.48, pulling back from its recent high. Price briefly broke past the 200-day EMA ($162.21) and SMA ($181.16), indicating strength before the seller reclaims the $185 resistance. This region has in the past been shown to be challenging, with numerous failed breakout efforts cementing its status as a significant price barrier. Despite a 3.5% daily decline, the overall trend remains bullish if SOL stays above the 200EMA. The higher-low structure is intact, hinting at healthy consolidation. A close above the 200SMA could confirm a fresh leg higher, targeting $200–$220. Failure to hold $162 support may risk a drop toward $150. Read More: SOL Price Prediction 2025: Can Solana Break $300 Despite SEC’s ETF Postponement?
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