Solana Breaks Out to $168, Pulls Back to Key Support
Solana hits $168 before pulling back. Will it hold the 200-day EMA or test lower support levels next?
- Solana reached first profit target at $168
- Price now pulling back to test key support
- 200-day EMA and 20-day MA are critical levels
Strong Breakout Followed by Key Test
Solana (SOL) recently delivered a powerful breakout move, hitting its first profit target at $165 — and briefly overshooting to $168. This rally followed technical signals shared days before the breakout occurred, and now attention turns to the next phase of the trend: support confirmation.
Currently, Solana is experiencing a healthy pullback after its bullish surge. The question now facing traders and investors is whether SOL can hold above the critical 200-day Exponential Moving Average (EMA), or if it will dip further to test the 20-day EMA, currently sitting around $153.
Key Support Levels to Watch
The 200-day EMA — often a long-term support level — is being tested. If Solana holds above this level, it could signal that buyers are stepping back in, providing a potential launchpad for the next upward leg.
However, if the 200-day EMA fails to hold, the next significant support is the 20-day EMA at $153. A dip to this level wouldn’t necessarily invalidate the broader bullish trend but would suggest a deeper short-term correction is underway.
Traders will be closely watching volume and candlestick behavior at these levels to determine the next move.
Momentum Intact, But Patience Needed
While the recent breakout shows strong upward momentum for SOL, pullbacks are a natural part of market structure. Whether this current dip is a brief retest or the start of a deeper correction depends on how price behaves around these EMAs.
For those trading Solana, platforms like Bitunix are offering zero-KYC trading with up to $400 in deposit bonuses and $9,000 in trading bonuses, giving traders added flexibility in managing their risk and capital.
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