- Sol traded in the vicinity of $ 171 with a win of 2.14% when it approached the $ 176 – $ 188 resistance zone.
- Solana Social Dominance rose to 5.18%, indicating that the attention of the retail trade returns as technical resources become favorable.
Solana [SOL] has continued its upward process, recovering Bullish Momentum as the tests A critical resistance cluster between $ 176 and $ 188. The prize has already returned from recent lows and seems ready to challenge this barrier of several months.
At the time of writing, Sol won 2.14% in the last 24 hours to act at $ 171.47.
This recovery is because Solana shows signs of strength about both technical indicators and derivative activity, with increasing evidence of the short side vulnerability just above current levels.
Can Bulls cause a pinch?
Liquidation heats revealed that a dense layer of survivaled short positions was stacked between $ 170 and $ 176.
Because Sol is already floating around $ 171, a decisive movement above $ 176 was able to coincide in liquidations and ride further upside down.
On May 18, the total short liquidations exceeded $ 1.72 million, while long liquidations remained negligible.
That imbalance indicates a classic setup – If bulls ignite the upper volatility, a cascade of short liquidations can speed up the movement.
Source: Coinglass
Financing percentages Flip positive after an extensive bearish phase
In addition, the financing percentages on Binance after weeks in the red became somewhat positive at 0.008%.
This shift suggests a growing willingness among traders to introduce long positions, indicating a sentiment shift.
Although the speed remains modest, the cooling bias reflects and increasing trust of traders in the upward potential of Solana. Persistent positive financing can attract more lever lungs, which strengthens Bullish Momentum.
Source: Santiment
Social Buzz picks it up as the attention of the retail trade returns
In the meantime, the social dominance for Solana climbed to 5.18%and recovered from a decrease of several weeks. This increase suggests a renewed interest among retail investors, usually seen during early bullish phases.
Although the current level is still under the peak of March, it emphasizes the growing involvement of the community.
If the price breaks through resistance, social traction can intensify and further strengthen the Bullish Momentum.
Source: Santiment
Will Sol prepare for an outbreak? Macd and FIB say yes
Technically, Solana remains above 1,618 Fibonacci extension at $ 163.16, a critical level of support that has held through recent volatility.
At the same time, the MacD convergence near the Nulline shows, which indicates a possible bullish crossover in the coming days.
These patterns reinforce a scenario where SOL $ 176 could reclaim and go to the following goals for $ 189.88 and $ 198.13, defined by higher FIB levels.
Momentum indicators gradually reinforce, which stimulates the drainage channels.
Source: TradingView
Development activity is stuck in the midst of volatility
That said, it’s not just price -driven hype.
The development activity of Solana remains sturdy at 23.38, which shows that the builder’s confidence has not been taken away.
Although the activity fell slightly from previous peaks, the confidence of builders continues to signal and maintain the network fundamentals.
Consistent development helps to strengthen the trust of investors in the long term and can support the price collections of more than just speculation.
Source: Santiment
Will Sol overcome resistance and ignite a rally?
All statistics point to a possible outbreak, while SOL tests a historically significant resistance range.
From liquidation pressure and increasing social interest to strengthening technical and stable development, the ingredients for a rally are present.
If Bulls releases the $ 176 – $ 188 zone, Solana could initiate a persistent push in the direction of higher extension goals.