In a bold move signaling confidence in Solana, a whopping $120 million has flowed into the network recently, igniting buzz among investors eager for potential gains. Despite Solana's recent performance, it has yet to break through the crucial $143 resistance level.

What’s fueling this surge? A notable influx of liquidity from competitor blockchains, particularly Ethereum ($41.5 million) and Arbitrum ($37.3 million), has kept the optimism alive. This influx has already sparked a remarkable recovery for Solana-native memecoins like POPCAT, climbing sharply from last week's lows.

Why $143 is the Key Watched Level

Recent analyses show that, despite the bullish momentum, Solana still retains a bearish market structure on daily charts. The failure to breach the $143 resistance suggests traders should remain cautious. However, positive movements beyond the $120 mark indicate that buyers are gaining strength.

One major indicator of this newfound optimism is the On-Balance Volume (OBV), which has reached levels not seen since March and is on the verge of challenging January highs—an encouraging sign of strong buying pressure.

Additionally, the Relative Strength Index (RSI) has flipped bullish by turning the crucial neutral 50 level into a support zone.

What Lies Ahead?

Short-term projections look promising, with analysts eyeing the $150-$160 range as a target due to concentrated liquidity overhead. Meanwhile, the $140 zone—just 6% above Solana's current market price—has emerged as a powerful focal point.

On the downside, the $123 area could also see action with approximately $5 billion in liquidations anticipated there, signaling potential buying opportunities. This aligns closely with support levels indicated by analysts, framing the $120-$130 range as an attractive accumulation zone.

As the crypto landscape evolves, all eyes are on whether Solana can finally break past its key resistance and set the stage for a significant breakout.