SOL Price Prediction: How High Will SOL Go Amid Technical Resistance and Mixed Sentiment?

#SOL

• SOL faces critical technical resistance at $150 with current price trading below 20-day moving average
• Mixed sentiment from institutional ETF filings versus exploit-related selling pressure creates market uncertainty
• Bollinger Band analysis suggests potential movement range between $120 support and $162 resistance in near term

SOL Price Prediction

SOL Technical Analysis

According to BTCC financial analyst Michael, SOL is currently trading at $140.74, slightly below its 20-day moving average of $141.58. The MACD indicator shows a bearish crossover with the signal line at 15.05 above the MACD line at 9.88, suggesting potential short-term weakness. However, the Bollinger Bands position indicates SOL is trading in the middle range, with support at $120.42 and resistance at $162.74. Michael notes that a break above the 20-day MA could signal renewed bullish momentum toward the upper Bollinger Band.

SOL Market Sentiment Analysis

BTCC financial analyst Michael highlights mixed sentiment in SOL markets. Positive developments include Franklin Templeton's ETF filing signaling institutional confidence and Bitget Wallet's new 6.37% staking offering. However, concerning factors include the first daily outflow from solana ETFs after a 20-day inflow streak and the $37M Upbit exploit creating selling pressure. Michael suggests these news factors align with the technical picture showing SOL at a critical juncture near $150 resistance.

Factors Influencing SOL's Price

Solana Holds Near Critical Resistance as Analysts Flag Pullback Risk

Solana's price action is drawing intense scrutiny as it tests a pivotal resistance level near $130. The asset's ability to consolidate here could determine whether it retests the $200-$230 range or faces a deeper correction. Market participants are weighing bullish momentum against overbought conditions in what's become a defining moment for SOL's 2024 trajectory.

"Best crypto to buy now" discussions continue to dominate social channels, with Solana frequently cited as a high-beta play on broader market strength. Analysts at Coinglass note that sustained buying pressure at current levels may signal institutional accumulation, potentially paving the way for triple-digit percentage gains.

The broader altcoin market exhibits classic early bull cycle behavior—sharp volatility, rapid sentiment shifts, and renewed retail interest. Traders emphasize the importance of timing entries during these consolidation phases, where strategic positioning often determines outperformance.

Solana ETFs See First Daily Outflow After 20-Day Inflow Streak

Solana-linked exchange-traded funds (ETFs) recorded their first net daily outflow of $8.1 million on November 26, breaking a 20-day streak of consistent inflows. Despite this setback, cumulative inflows remain strong at $613.22 million, with total assets nearing $918 million.

Bitwise's SOL fund (BSOL) led inflows with $13.33 million added, while Grayscale's product saw $10.42 million in new investments. In contrast, 21Shares experienced a $34 million outflow, highlighting selective investor interest across different ETF products.

The market continues to expand with Franklin Templeton's low-fee Solana ETF entering the fray. Regulatory tailwinds persist as SEC guidance accelerates approvals for crypto-focused investment vehicles.

Bitget Wallet Introduces 6.37% SOL Staking via Native Validator Nodes

Bitget Wallet now offers Solana staking through its proprietary validator infrastructure, delivering an estimated 6.37% annual yield. The non-custodial solution enables users to maintain asset control while participating in network validation—staking rewards auto-compound every 48-72 hours without lockup periods.

The integration marks a strategic expansion of Bitget's ecosystem services, combining yield generation with blockchain security contributions. SOL holders gain institutional-grade staking access without delegating custody rights, addressing a key concern in decentralized finance.

Solana Price Faces Pressure After $36M Upbit Exploit—Can Bulls Clear the $150 Resistance?

The crypto markets showed signs of recovery as Bitcoin surged toward $92,000, lifting altcoins like Solana. SOL rebounded from $127, with technical indicators suggesting a potential rise to $150. However, the Upbit exploit involving $36 million in Solana has introduced fresh volatility.

Upbit suspended deposits and withdrawals after unauthorized access drained 24 cryptocurrencies including SOL, USDC, and BONK. While the breach didn't stem from Solana's protocol, traders remain cautious. The exchange's ongoing investigation has yet to disclose full details.

Market observers now question whether SOL can maintain its bullish trajectory. The $145 resistance level presents a critical test—a breakout could signal momentum toward $150, but the exploit's aftermath may weigh on short-term price action.

Franklin Templeton Files for Solana ETF, Signaling Institutional Confidence

Franklin Templeton, the $1.67 trillion asset management giant, has taken a decisive step toward launching a Solana ETF by filing SEC Form 8-A. The move underscores growing institutional demand for regulated exposure to SOL without direct cryptocurrency ownership. Solana's blockchain, renowned for its high-speed smart contracts, stands to gain broader recognition and liquidity if approved.

SOL trades at $136.37, up 1.23% in 24 hours, with its RSI at 39.69 hinting at potential exhaustion of selling pressure. On-chain data reveals a critical resistance cluster near $142, where 13 million SOL tokens previously changed hands. A decisive breakout could propel prices toward $188, while rejection may test the $128 support level. Analysts speculate Wyckoff reaccumulation patterns could eventually fuel rallies toward $360-$480.

Upbit Freezes Stolen Funds Following $37M Solana Wallet Breach

South Korean cryptocurrency exchange Upbit has suspended deposits, withdrawals, and SOL staking services after a security breach drained approximately $36.9 million from its Solana hot wallets. The incident occurred early Thursday, with unauthorized transfers involving SOL, USDC, and several smaller tokens.

Upbit and its partners have already frozen ₩12 billion worth of Solaire (LAYER) tokens and are actively tracing the remaining stolen assets. CEO Oh Kyung-seok of Dunamu, Upbit's operator, has apologized for the disruption, emphasizing user protection as the top priority.

The exchange has initiated a full security review and moved remaining assets to cold storage. Market participants are advised to monitor official updates as the investigation progresses.

How High Will SOL Price Go?

Based on current technical and fundamental analysis, BTCC financial analyst Michael provides the following SOL price outlook:

Michael emphasizes that SOL's ability to clear the $150 resistance level will be crucial for determining the next major move. The mixed news flow creates uncertainty, but institutional ETF interest provides underlying support.