Will Solana’s (SOL) Price Rise Be Halted by Profit Taking? Here’s What the Data Says!

Jakarta, Pintu News – The cryptocurrency market is always full of unexpected dynamics. One of the tokens in the spotlight is Solana (SOL), which is currently testing resistance at $180. However, the big question that arises is whether profit-taking will hamper its rise?

Solana (SOL) Total Value Locked (TVL) Recovery

Solana’s (SOL) Total Value Locked (TVL) has returned to the same level as mid-February, although the current price is still 40% lower. This suggests strong fundamentals and great potential for further Solana (SOL) price increases. Nonetheless, the high NVT value suggests that the token may be overvalued, which could be a warning signal for investors.

At the same time, there was no massive accumulation by whales, which can usually be an important indicator in price movements. The relative supply distribution shows that, while there was a significant increase in wallets with balances over 100,000 SOL after the big price hike, this does not necessarily indicate extensive market accumulation before the price hike.

Also Read: Potential for XRP, Kaspa, and Solana in the Next Altcoin Cycle According to Analysts!

Technical Analysis and SOPR

Solana (SOL) is currently testing resistance at $180, a zone that has been a stumbling block since mid-February. A bullish market structure is visible on the daily chart, where Solana (SOL) managed to overcome the previous low of $143, which marked a downtrend in the first quarter of 2025. This level was recently retested as support before rallying to $178.

However, the Spent Output Profit Ratio (SOPR) currently at 1.16 suggests that many holders may start selling to take profits. The SOPR, which measures the ratio of selling price to buying price, has shown that whenever the value reaches 1.06-1.1, the Solana (SOL) price experiences a significant drop.

Investment Outlook and Strategy

Although there is a potential for a price drop due to profit-taking, the steady demand for Solana (SOL) indicated by the increasing On-Balance Volume (OBV) provides some optimism. Investors may want to consider waiting for a price drop to the $150-$160 range before making further purchases, provided the OBV can maintain its uptrend.

It is important to monitor these indicators and adjust investment strategies according to changing market conditions. Understanding when to enter and exit the market can go a long way in determining investment success in the long run.

Conclusion

Taking all these factors into account, Solana (SOL) investors should remain vigilant and prepared for possible volatility. Keeping a close eye on technical and fundamental indicators will help in making the right investment decision at the right time.

Also Read: New York Mayor Appoints Crypto Advisor After Corruption Case Dropped

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Solana bulls eye $180, but will profit-taking spoil SOL’s rally?. Accessed on May 13, 2025
• Featured Image: Crypto Rank