Solana (SOL) is facing resistance at the $160 level, with concerns rising about a broader market retrace amid weakening market momentum and rising volatility.
Analyst Kaleo has a bullish outlook for SOL, suggesting a potential rally to $300 if market momentum strengthens, but broader participation and risk appetite are needed for this scenario.
While SOL remains in a tight range, its short-term outlook depends on the behavior of Bitcoin and Ethereum, with a breakout possible if leading assets stabilize and bulls step back in.
Solana is currently trading at $157.46, with key support holding but momentum remaining weak. A break above the $162–$165 range could lead to a retest of the $180 resistance, while failure to do so may result in a drop towards the $144 support.