Solana's (SOL) price prediction remains bullish despite struggling to break the key resistance level at $138. A rise beyond this point could boost SOL to $160, especially with growing institutional support.
Increased institutional interest in Solana has been evident this month, with over $9.7 million invested. Such inflows suggest renewed confidence in Solana's long-term potential, possibly driving future price growth.
This institutional backing has sustained Solana's momentum. Continued trends in institutional investments may lead to further gains, providing stability and acting as a catalyst for upward price movements.
Moreover, Solana's macro momentum appears to be strengthening, indicated by the Chaikin Money Flow (CMF) reaching its highest in a month and a half. Positive netflows driven by institutional activity signal a favorable environment for price increases, despite challenges in sustaining momentum.
Currently trading near $138, Solana needs to flip this level into support to potentially reach $155 and $160. While bullish factors suggest a breach of $138 is likely, weakening momentum could limit the altcoin's ability to surpass this crucial level.
If Solana fails to break through $138, the bullish outlook would be invalidated, possibly leading to a decline to $124 or $120, introducing further downward pressure.
