Solana Price Prediction: SOL Eyes $218 Breakout as Robinhood Sparks Fresh Staking Momentum

Solana price is starting to look like it’s gearing up for a major breakout, but it’s not there just yet. Market watchers are closely eyeing the $162 to $167 zone, a thick wall of resistance that’s capped multiple rallies. If bulls can finally break through, the next leg could send SOL flying.

In a latest news development, shared by Cointelegraph, Robinhood just brought SOL and ETH staking in the U.S., and it’s a big moment for Solana. After being dropped in 2023 when the SEC labeled it an unregistered security, SOL is back on one of the most retail-heavy platforms in the space. This clear shift in tone and a signal that regulatory pressure around SOL may be easing.

Solana returns to Robinhood with staking support, signaling renewed retail access and easing regulatory pressure. Source: Cointelegraph via X

From a broader perspective, this rollout could boost staking participation and help Solana gain ground with investors. The ease of access Robinhood offers means more users can now stake SOL without needing to navigate DeFi tools or self-custody.

Just as SOL gains momentum from Robinhood’s staking launch, a familiar name re-enters the scene. On-chain data from SolanaFloor shows that FTX unstaked nearly 190,000 SOL, worth over $31 million. While the transaction itself isn’t necessarily bearish, it does raise questions about potential sell pressure if those tokens hit the market. Participants are watching closely to see whether this is a strategic reshuffle or the start of a larger move from FTX-related wallets.

FTX-linked wallet unstakes 190,000 SOL amid renewed retail momentum, raising questions about possible sell-side pressure. Source: SolanaFloor via X

This development comes at a time when confidence in SOL is starting to pick back up. Retail access through Robinhood and renewed staking support had started to shift sentiment positively. The timing of this large unstake introduces a variable that could impact short-term price action.

Despite fresh momentum from Robinhood staking and on-chain buzz, the Solana price is still stuck under a major technical lid. As highlighted by Market Watcher, the price is grinding just beneath a neckline that’s acted as resistance.

This level at $162 is capping every bounce, and it’s the reason SOL hasn’t followed through like some of its peers. A clean break above that trendline could change the tone quickly.

Solana forms an inverse head and shoulders pattern below $162 resistance, with a breakout potential towards $180. Source: Market Watcher via X

The good news is, the setup underneath is getting tighter. Higher lows are forming, and the broader chart is shaping up like an inverse head and shoulders. If volume steps in and SOL Solana price can finally flip that neckline into support, it could unlock the upside towards $180 and potentially higher.

Solana is pressing up against a familiar ceiling. As shown in CW’s chart, the $162 to $164 range has built up into a thick selling wall, capping multiple rally attempts over the past few days. Price is currently hovering just below this zone, making it a crucial level to watch. If SOL can punch through with solid volume, it opens up room for a smoother move toward $180.

Solana tests the $164 resistance zone with steady volume and bullish structure. Source: CW via X

SOL has been gradually carrying out higher highs and higher lows without overheating, which gives this move a solid foundation. Volume is steady, and momentum hasn’t overextended. If bulls can clear this resistance, the path to $180 looks achievable.

Shelby’s latest chart offers a clean and structured look at where Solana might be heading next once $167 resistance breaks. The ABCD harmonic pattern suggests a potential move up to around $218 if the current bullish leg continues playing out. This projection lines up neatly with previous resistance levels, making it a likely target if momentum stays intact.

ABCD pattern projects a potential Solana move to $218. Source: Shelby via X

The pattern also shows a healthy retracement at the mid-point (B), giving the setup more credibility. However, Solana will face resistance at $180 zone, and once this breaks, the rally towards $218 could come faster than expected.

Solana is building momentum again, but all eyes remain on that major $162 to $167 resistance zone. From Robinhood’s renewed support to rising staking activity and steady higher lows, the fundamentals and structure both lean bullish.

But for now, this $162 to $167 range remains the battleground. If Solana gets through this range, it’s likely to head for $180 next and could follow through towards the pattern target of $218.