Market Data 
Solana (SOL) price is gaining momentum as technical patterns and network growth signal a potential price breakout. The altcoin touched $160 recently and further surged to $174.31, driven by increasing investor interest, a surge in short liquidations, and broader market support from Bitcoin’s rally.
Market analysts now predict a rally toward $200, driven by a combination of a bullish price pattern, strong on-chain activity, and new developments such as Superstate’s Opening Bell platform.
Solana Price Inverse Head-and-Shoulders Pattern Points to Possible Breakout
Analysts are observing an inverse head-and-shoulders pattern on Solana’s higher time frame. This formation is often seen as a potential signal for a future uptrend. According to a post on X by crypto analyst Crypto Zeinab, the neckline of this pattern lies at the $160 level, which has already been tested.
If Solana price holds above $160, traders anticipate a breakout that could take the price to $180 and even $200. This technical setup aligns with current market activity, as rising demand and favorable conditions increase the chances of this pattern playing out. The pattern has developed over several weeks, which adds weight to its potential reliability.
Source: X
Market participants are closely watching for confirmation of the breakout above the neckline. Should volume and price action confirm this move, further gains toward the $200 mark may follow. The current trend remains positive, with price momentum supporting a bullish continuation.
Short Liquidations Cross $30 Million as Solana Price Surges
On-chain data from Coinglass shows that over $30 million in short positions were liquidated in recent days. On May 8 alone, more than $18 million in shorts were closed as Solana’s price surged. This sharp move forced many traders betting against the price to cover their positions, which added to buying pressure.
These liquidations occurred after a brief period of price consolidation around $150, followed by a breakout toward $167. This price action is consistent with a short squeeze, where rising prices force short sellers to exit their positions. As more shorts are liquidated, the upward price movement becomes stronger.
Source: CoinGlass
Liquidation data also shows an increasing long/short ratio, which reached a monthly high of 1.05. This means more traders are opening long positions, expecting prices to continue rising. The rise in open interest to $5.84 billion further supports the case for growing investor confidence and positioning toward higher prices.
SOL Strategies Buys $18.2 Million Worth of SOL Tokens
SOL Strategies, a firm actively involved in the Solana ecosystem, recently purchased 122,524 SOL for $18.2 million. This acquisition increased its total SOL holdings to 391,782 tokens. The company has consistently shown support for Solana by investing and participating in its long-term growth.
The timing of the purchase aligns with broader developments in the ecosystem, suggesting the company anticipates increased utility and demand. SOL Strategies has stated that it believes in the potential of tokenized equity and its effect on on-chain asset growth. This increased network activity may support the token price by enhancing liquidity and engagement.
This investment also coincides with growing institutional interest in Solana and its applications. With blockchain adoption expanding beyond cryptocurrencies, firms like SOL Strategies see value in securing a position early in promising platforms like Solana.
Superstate Launches Opening Bell Platform on Solana
Superstate has channelized its efforts into the platform called Opening Bell, a blockchain based solution to issue shares based on Solana’s infrastructure. This platform aims to allow companies to issue and trade registered equity shares directly on-chain. According to Superstate, the platform uses the same systems that support its tokenized funds, USTB and USCC.
The Opening Bell platform will use an SEC-registered, blockchain-enabled transfer agent to record and tokenize company shares. These shares will be real equity and not those enwrapped tokens. This method enables 24/7 trading of classical financial instruments in networks based on blockchain technology thus expanding the field of view for global investors.
SOL Strategies intend to become the first public company to use the platform to issue shares. The company has entered an informal memorandum of understanding (MoU) with Superstate to pursue this initiative. This partnership can further increase the use cases for Solana and attract more institutional and retail participants to the network.
