Can Solana Price Hit $177 This Month?

Solana (SOL) has established a strong support zone around $113, forming a classic double-bottom pattern on the daily chart. This technical structure, often viewed as a bullish reversal, is further supported by a rising Relative Strength Index (RSI) divergence—indicating the potential for upward momentum.

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Market sentiment hinges heavily on Bitcoin’s next move. Should BTC regain strength and push above $85,000, SOL could rally past the $177 mark in the near future. On the flip side, a sustained drop below $113 may trigger a deeper correction below $100, opening room for further downside in the coming weeks.

Beyond price action, Solana’s fundamentals remain strong. The network has seen explosive growth in real-world asset (RWA) tokenization, especially in stablecoins. Since President Donald Trump’s re-election, over $8 billion worth of stablecoins have been minted on Solana, boosting its total value locked (TVL) to approximately $6.6 billion.

Recent adoption news adds more weight to bullish hopes. PayPal and Venmo have integrated Solana into their U.S. crypto services, alongside Chainlink (LINK), signaling mainstream confidence in the network's speed and low costs.

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Technical analyst Scott Melker also highlighted $112 as a critical level. While the price has bounced off this level, a decisive move above $130 is needed to confirm a bullish reversal, with $147 as the next key resistance. Traders are watching closely, especially after over $200 million in staked SOL was unlocked—a major supply event that surprisingly didn't break the $100 level, hinting that most selling pressure has already been absorbed.

In the short term, Solana remains range-bound, with bulls aiming for $130–$147 and bears watching for weakness below $112. The next few sessions will be crucial in determining Solana’s breakout direction.