Solana (SOL) Price Shoots Overnight: U.S. Crypto Reserve Hits $180

Along with XRP, Cardano, Bitcoin, and Ethereum, Solana is among the altcoins selected for the U.S. Crypto Reserve by Donald Trump. This news sparked a bullish surge, peaking at $180.

However, an intraday pullback saw the SOL price drop to $161. Will Solana maintain momentum to reach the $200 psychological threshold?

Solana Price Hits 50% Fibonacci Level at $180, Targets $200 Breakout

The daily chart demonstrates bullish support above the $125 level for SOL. Following a price rejection, Solana saw a bullish reversal fueled by positive sentiment.

Solana Price Chart

The overnight recovery resulted in a 24.47% increase, from $143 to $178, with the price hitting resistance at the 50% Fibonacci level near $180. Yet, bullish exhaustion led to a 10% pullback, marking a piercing candle that breached the 38.20% Fibonacci level at $165.

Still, a shift in momentum has triggered a bullish crossover in the MACD and signal line. Furthermore, the daily RSI line has begun to rise back toward the neutral zone, suggesting increased buying pressure and the potential for a continuing bullish trend.

Analyst Predicts Channel Breakout, Targeting $213

Ali Martinez, a crypto analyst, notes that Solana might be breaking out of a descending channel, with a price target of $213.

> “#Solana $SOL appears to be breaking out of a descending parallel channel, setting its sights on a potential move to $213!”
> — Ali (@ali_charts) March 2, 2025

The price action suggests that Solana may reach the 38.20% Fibonacci level at $213, especially after the current pullback acts as a retest of the breakout.

Whales Unstake to Cash In During Price Recovery

As Solana’s price surges, several whales are cashing out. As reported by OnChain Lens, 3 million SOL tokens worth $510 million were deposited into Binance from a dormant staking account.

> “Just In: 3M $SOL, valued at $510.36M, has been deposited into the #Binance cold wallet from a stake account after 2 months of dormancy.”
> — Onchain Lens (@OnchainLens) March 3, 2025

Additionally, another whale transferred 48,647 SOL tokens worth around $7 million, realizing a profit of $1.61 million after recent unstaking.

Bulls Aim for $213 as Solana Gains Momentum

Despite short-term profit-taking leading to a near 10% pullback, Solana is expected to undergo a reversal after the market stabilizes. A breakout above the 50% level could challenge the 78.60% Fibonacci level at $223, while crucial support remains at the $150 psychological mark.