Can Solana Price Rebound Above $200 as BlackRock Adds SOL to Its Money Market Fund?

Highlights:

• Solana price spikes 14% in a week despite a slight slump of 7% in trading volume. 
• BlackRock has added Solana to its Money Market Fund.
• BitMEX co-founder Arthur Hayes predicts a potential rally to $300 in Solana price.

The Solana price has spiked 14% in a week to the $142 mark, despite a 7% fall in trading volume in the past day. The market is picking up steam once more as Bitcoin climbs above $87K, approaching the $100K mark, as traders look forward to capitalizing on the rally. 

Meanwhile, BlackRock has added Solana to its Money Market Fund. Currently, BlackRock has $11.5 trillion in Assets Under Management. These recent developments could also trigger a bounce back in the Solana price. 

🚨 BREAKING: BLACKROCK adds SOLANA to its Money Market Fund.

BlackRock has $11.5 TRILLION Assets Under Management.#SOLANA ⚡️ pic.twitter.com/nkumV7Xr1h

— curb (@CryptoCurb) March 25, 2025

BitMEX co-founder Arthur Hayes has gained social media attention after his latest appearance on a popular online platform. According to X posts from Hayes, there will be two upcoming market highs, with Ethereum reaching $5000 before Solana reaches $300. 

$ETH to $5k before $SOL to $300. Who is with me?

— Arthur Hayes (@CryptoHayes) March 25, 2025

With recent developments in the Solana market, can the SOL price rebound above key resistance levels? Let’s dive into the SOL technical outlook and decrypt more.

Solana Price Outlook

The SOL/USD daily chart shows a consolidation phase in the Solana market, which could cause a rebound in the coming days. However, the altcoin is struggling below the 50-day MA ($156) and the 200-day MA ($183), reinforcing the dominance of bearish momentum. The repeated inability to sustain gains above these moving averages indicates that sellers remain in control.

If the bearish pressure intensifies, the price may keep trading sideways or soon challenge lower support levels at $125. If this support area is broken, further downsides could extend to $118 or even $114.

The prevailing bearish sentiment indicates that the sellers have the upper hand. However, the altcoin has boasted a 14% surge in the past week, indicating increased investor confidence despite the $0.74 decrease in a day. In the meantime, for any bullish reversal to gain traction, the price must reclaim the 50-day and 200-day MAs as support. 

A decisive move above these levels could shift momentum in favor of buyers, targeting resistance levels at $200, $220, and $240. However, such a reversal would require a notable increase in trading volume and sustained bullish momentum to break out of the long-term downtrend.

Can SOL Break Out Above the $183 Mark?

The technical indicators support the potential bullish reversal outlook. The zoomed outlook at the RSI has broken out of the mid-level, currently reading at 51.38. If the buying pressure surges, the Solana price could break out above moving averages, potentially reclaiming the $200 mark. Meanwhile, a spike in RSI towards the 68 mark would validate the bullish trend. 

On the other hand, the MACD indicator has made a bullish divergence, upholding a buy signal. This is evident as the blue MACD line has crossed above the orange signal line. This indicates buyers are at liberty to rally behind SOL, which could stir a price recovery in the market.

Conversely, if SOL fails to gather enough buying pressure, the downward trajectory could continue, leading to extended consolidation or further breakdowns. Traders should closely monitor price action around the $125 support level, as a breach could accelerate losses toward lower demand zones. Meanwhile, an increase in buyer activity and a break above key resistance levels would indicate a shift in sentiment, potentially signaling the beginning of an upward trajectory.