Solana Price Don Skyrocket, Don Break $160 Resistance, Eye $200+
Solana price don bounce back from im three-week low of $126, na because of strong on-chain growth. DeFi total value locked (TVL) for Solana jump 18.1% reach $9.19 billion, and active daily addresses increase 14% reach 3.34 million. During U.S. trading for July 16, SOL dey trade between $157.23 and $162.89, wey show say market get momentum plus ETF speculations. For technical side, Solana price don form inverted head-and-shoulders pattern between $157.80 and $168.28, e mean say breakout dey come. The token don pass $160 resistance, confirm say bullish trend dey continue. If price close pass $160, e fit target $200, wey follow 1.618 Fibonacci extension of $118–$145 base, and fit even hit $300 for strong uptrend. But if e drop below $155, e fit go back to support zone of $135–$140. For bigger timeframes, cup-and-handle pattern below 50- and 200-day moving averages mean say more gains be possible to $240–$260. Traders suppose dey watch trading volume, daily closes, and TVL metrics to confirm momentum.
Bullish
Di combine on-chain data plus technical patterns dey show say SOL get chance to go up. Di increase for DeFi TVL and di number of active addresses show say plenty people dey use am well well, plus di inverted head-and-shoulders pattern and e breakout pass $160 mean say e get correct upward trend now. Short-term traders fit target $200 with Fibonacci extension levels and fit manage risk around $155 support level. For medium to long term, di cup-and-handle pattern wey dey below di 50- and 200-day moving averages suggest say e fit reach $240–$260, and even $300 if buyers keep the pressure. Overall, di growing on-chain metrics plus many bullish chart patterns dey support more upside and better market confidence.