$SOL Solana's price performance has been less than ideal, and the overall slump in the cryptocurrency market has made the situation worse. However, discussions about the Solana ETF and increased buying pressure have once again sparked interest in the altcoin. Technical indicators show that Solana may usher in a wave of upward trend. If this trend continues, Solana's price may soar to $175, breaking through the resistance level of $168.

However, this rise may also lead to a decline in price, raising concerns about liquidation. Although Solana's bulls are currently in control of the market, it may soon encounter some obstacles.

Data from CoinMarketCap shows that SOL rose by more than 12% last week and surged by more than 5% in the past 24 hours alone. Now, SOL is trading at $159.12 and has a market value of more than $74.8 billion, making it the fifth largest cryptocurrency.

Captain Faibik, a well-known analyst, expects that SOL may hit $1,000 in this bull cycle. According to data analysis by Santiment, SOL's trading volume rose along with the price last week, which is generally seen as a bullish sign. But the bearish sentiment around SOL is also increasing in the market.

Solana has shown strong bullish momentum recently, but $173 could be a significant resistance level. To reach the next psychological level of $200, Solana needs to overcome this resistance. Although the current price level is slightly below the key level of $160, Solana's bullish trend and momentum remain strong as long as it stays above the support level of $152-$154. Let's see what happens next.