Solana (SOL) has shown strong signs of recovery after recent market volatility, trigger optimism among traders and analysts. The cryptocurrency recently bounced off a local bottom and broke out of a bullish triangle formation, suggesting the potential for further upward movement. If momentum continues, Solana might be on track to reclaim its recent highs and possibly surge toward $164 and beyond.
Over the past few weeks, Solana has faced significant market pressure, dropping as low as $140 during the broader crypto sell-off. At one point in early April, it even touched a 14-month low of $95. However, SOL has since bounced back and is now showing strength on multiple technical charts.
In the last seven days, Solana has climbed 2.45%, marking a positive change in market sentiment. The bounce from the $140 level, followed by a nearly 10% gain over the weekend, has helped SOL recover the key $150 support level.
One of the key indicators traders are watching is the ascending triangle formation that recently formed on Solana’s chart. According to crypto analyst Ali Martinez, SOL broke out of this triangle pattern after reclaiming the $155 level. A breakout from this type of formation typically signals the beginning of a bullish trend.
Martinez suggests that if this breakout holds, Solana could see a 6% jump, which would take its price near $164—a level it recently lost during the last correction. This level is considered an important resistance point that, if broken, could trigger even more buying pressure.
Another well-known analyst, CW, believes that reclaiming the $160 level will be a crucial move for SOL. According to CW, breaking this price barrier could lead to a fast recovery, pushing the coin back toward $180. This level acted as a strong resistance in the past, and Solana has struggled to stay above it despite briefly hitting $187 during a recent rally.
CW notes that once SOL moves above $160 with solid support, it could retest higher resistance areas. The most immediate targets are $164 and $180, but if momentum continues, some believe $200 and even $300 could be long-term possibilities.
Despite the optimism, it’s important to note that there are still risks. If Solana fails to hold above the $150-$155 zone, the price could fall back to the $142 support level, which acted as a safety net last week. If selling pressure increases further, the next major support is around $135, a level where many buyers are expected to step in.
These price zones are crucial because they determine whether Solana can maintain its upward momentum or fall back into a consolidation phase.
Technical patterns aside, Solana’s performance also depends on broader market sentiment. According to analyst Jeremy, SOL is “finally breaking out from this downtrend consolidation.” He noted that Solana had been trading within a descending channel between $140 and $187 since late May.
Now that SOL has broken out of this range, the price could move higher—if external factors don’t interrupt the trend. Jeremy pointed to potential geopolitical and social factors, such as online feuds between influential figures like Donald Trump and Elon Musk, which have recently added volatility to the crypto market.
Still, Jeremy remains optimistic. He concluded that “1 SOL = $300 is just a matter of time,” reflecting the bullish long-term sentiment held by many in the crypto community.
For now, all eyes are on whether Solana can maintain its current pace and break through the $160–$164 range. A strong push above these levels could set the stage for a move toward $180 and possibly $200. On the other hand, failure to hold support could see the coin drop back toward lower buying zones.
Solana’s recent breakout, coupled with broader market recovery, offers hope to investors looking for a fresh rally. However, the next few days will be crucial in confirming whether this breakout leads to a sustained upward trend—or if more consolidation lies ahead.
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