Solana Eyes $180 as 12-Hour Bullish Reversal Candle Sparks Breakout Talk

Solana forms a bullish 12H reversal candle, eyeing breakout above $150 resistance.

On-chain activity and fee revenue remain strong, exceeding Ethereum in recent days.

ETF filings and Mastercard’s Solana Pay support add to rising institutional momentum.

Solana (SOL) is showing a strong bullish reversal on its 12-hour chart. The current candlestick formation signals rising momentum after days of consolidation. Traders are watching closely as a potential move above the $150 level could unlock further upside toward $180 and beyond in the coming sessions.

Bullish Candle Signals Breakout as SOL Holds Key Support

According to analysis prepared by GemXBT on May 1, 2025, Solana has painted a large bullish reversal candle on the 12-hour timeframe. This pattern typically signals a change in direction when it forms after a sideways trend, as seen in SOL’s current range between $146 and $150.

Source :GemXBT(X)

The Bollinger Bands on the 4-hour chart remain squeezed, which reflects low volatility. Historical data shows that similar setups preceded sharp breakouts. Solana last experienced a comparable squeeze in April, which led to a price increase from $132 to $153 within days.

Solana is currently trading just below the $150 resistance. A close above this level may open the door to the $164 and $180 zones. Technical levels suggest that holding above the 50-day exponential moving average around $140 could further support this breakout potential.

On-Chain Activity and Market Events Align with Price Momentum

Strong network usage continues to support Solana’s market strength. Fee revenue has remained elevated, surpassing that of Ethereum in recent days. This reflects active decentralized app usage, particularly in payments, gaming, and trading.

Recent partnerships also contribute to growing ecosystem traction. Mastercard’s support for stablecoin payments through Solana Pay has introduced new real-world applications. Meanwhile, several asset managers have filed for a Solana ETF, and Bloomberg Intelligence places the likelihood of approval at 90% in 2025.

If the price holds its current range and breaks above $150 with volume, analysts expect a continued rally toward the $180-$211 area. This would mark a major shift from the current neutral phase into an upward trend.

The post Solana Eyes $180 as 12-Hour Bullish Reversal Candle Sparks Breakout Talk appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.