Solana Price Poised to Explode — But Only If This Level Breaks

The chart shows Solana trading around $153.85 USDT after a corrective rally from the June lows. Overall market structure has shifted in recent sessions, highlighted by a clear Break of Structure (BOS) on June 29, which signaled the first real attempt to reclaim higher ground after persistent weakness. However, the price has now approached a cluster of supply zones, which could either trigger a further rally if absorbed or mark a fresh rejection.

Above the current level, you can see strong red zones between 160–180 USDT, representing prior swing high supply and institutional sell interest. These are areas where large sellers previously stepped in to push price lower, so if Solana fails to break above this region with convincing volume, sellers may become more active again. In contrast, the nearest major demand zone sits around 137–140 USDT, highlighted in blue. This zone has acted as a key support and liquidity pocket where price has rebounded multiple times.

The Smart Money Concepts on the chart, including frequent CHoCH (Change of Character) and EQ/CHoCH labels, indicate that liquidity sweeps and engineered reversals have been common. This suggests the market may be preparing to hunt stops above recent highs or below recent lows before committing to a longer-term move.
At this point, the trend bias is cautiously neutral to bullish in the short term because the BOS suggests an attempt to reclaim higher levels. However, this bullish bias remains unconfirmed until Solana cleanly breaks and holds above 160–170 USDT. If sellers defend that area, the market could revert to the 137–140 zone.

Below is a clear trade scenario based on what the chart is showing:
Potential Trade Setup (Not Financial Advice)
Scenario: Short from Supply Resistance
o Entry: 153.85–154.35 USDT (currently being tested)
o Stop Loss: Above 160 USDT (invalidates bearish rejection)
o Take Profit Target: 137–140 USDT demand zone

Alternatively, if Solana rejects and returns to retest demand, this would offer a possible buy scenario for traders looking to play the rebound:
Scenario: Long from Demand
o Entry: 137–140 USDT demand zone
o Stop Loss: Below 135 USDT (confirms demand failure)
o Take Profit Target 1: 153.85 USDT resistance retest
o Take Profit Target 2: 170 USDT upper supply

At the moment, the price is balanced between these zones, so a wait-and-see approach can help confirm whether supply breaks or holds. A clean break above 160 USDT with strong momentum could invalidate the short idea and favor continuation higher toward the upper supply region around 170–180 USDT.

In summary, the chart structure is showing early signs of potential accumulation but still faces significant overhead resistance. Careful confirmation around the 154–160 level is critical before committing to either direction. If you’d like, I can help you refine these plans further or overlay additional indicators like volume or moving averages for extra confirmation.