Solana price analysis (Bullish) — 161.15 USDT (+2.67% 24h)

SOL is showing resilience at the $161 level, trading marginally above both its 20-day ($160.30) and 50-day ($158.38) SMAs, indicating underlying strength. The 2.67% 24-hour gain on substantial $666M volume suggests institutional accumulation despite choppy market conditions. With RSI hovering near 50, SOL sits in neutral territory with room for momentum in either direction. The 5% volatility reading reflects typical altcoin behavior but remains manageable for position traders. Current price action suggests consolidation before the next major move. Traders should watch for a decisive break above $165 with volume confirmation for bullish continuation, while a breakdown below $155 could trigger profit-taking toward $150 support. Consider scaling into positions during dips toward the SMA cluster, using tight stops given the elevated volatility environment. Options traders might explore defined-risk strategies to capitalize on expected volatility expansion.