Liquid staking is increasingly attracting investors on Solana, driving growth for the SOL token. With a bullish momentum, the crypto could target $185 in the coming weeks, pending key threshold breakthroughs. Full analysis ahead.
Institutional investors are showing growing interest in staking options based on the Solana (SOL) network. This demand could push the SOL price to new heights, with the key resistance level of $185 firmly in sight.
Liquid Collective recently launched a liquid staking token on Solana. This launch is in partnership with major industry players including Coinbase, Kraken, Galaxy, Anchorage Digital, and Fireblocks. This “Liquid Staked SOL” (LsSOL) addresses the growing appetite from institutional investors for the Solana network, as they await regulatory approval in the United States for SOL-based ETFs.
After completing an inverse head and shoulders pattern, SOL has managed to maintain itself above the $159 threshold. This level has now been converted into solid support. The 20-day exponential moving average ($157) is beginning to trend upward, while the relative strength index (RSI) approaches the overbought zone.
If buyers manage to keep the price above $168, the SOL/USDT pair could then soar toward the $185 resistance. Sellers will likely defend this level tooth and nail, as a breakout beyond it could propel SOL up to $210.
In the short term, bulls have successfully prevented bears from dragging the price below $159, indicating that this level has been firmly converted into support. If buyers succeed in pushing SOL above $169, the path would then be clear toward the resistance zone of $180-$185.
However, sellers haven’t had their final say. They will need to quickly drive the price below $169 to attempt to trap the bulls and force SOL back down toward $159. The trend will shift in favor of the bears if there’s a breakdown below $155.
While the short-term outlook appears positive for SOL, investors should remain vigilant about potential volatility. The approval of SOL-based ETFs or increased institutional adoption could, however, propel the price toward new highs in the coming months.
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