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Solana is displaying signs of strength as it trades with a key chart pattern, which indicates that the altcoin is preparing for a solid move. The price has been holding steady, forming lower highs and higher lows within a narrowing range. This pause in momentum could be setting the stage for another breakout. Key Resistance Levels In Focus As Breakout Approaches
Solana has developed a bullish flag pattern on the daily chart, signaling a continuation of its uptrend. According to Dynamite Trader’s poston X, this pattern often precedes strong breakouts, suggesting that momentum could soon accelerate. Related Reading Solana (SOL) Breakout Watch: Price Could Rally Hard Above $150 Level? 5 days ago
Currently, SOL’s price is holding above the midline of the flag, indicating underlying strength. However, it’s also testing the daily 100 moving average (MA100), which is acting as a dynamic resistance. SOL’s reaction to this level will be crucial in determining whether the bullish flag leads to a decisive breakout or a deeper consolidation. Source: Dynamite trader on X
Another analyst, Henry, highlightedthat Solana is gearing up for a big move after completing a clean Cup and Handle breakout on the 4-hour chart, a bullish pattern that signals continuation. The breakout saw SOL flip the $149 resistance into support, a key technical shift.
If this level holds, Henry sees a rally towardthe $168 to $174 zone, which aligns with previous resistance levels and bullish extension targets. He adds a warning that volatility is increasing, and high-leverage positions are at risk on both sides.
Solana is setting up a clean wedge on the weekly chart. Currently trading at $150, SOL has been consistently bouncing between support and resistance levels, which is known for building pressure before delivering sharp moves.
Talking about this, Top G emphasizesthat if this plays out as expected, the next leg up could be significant, and $300 isn’t just speculation; it’s a realistic target based on the structure and behavior. Holding Above The Breakout Zone Could Accelerate The Move Upward
Solana has broken abovethe downtrend line on the 4-hour chart. This move could mark a pivotal shift in short-term momentum, with potential bullish continuation if current levels hold. Related Reading Solana Price At ‘A Very Delicate Level’ – Analyst Says $148 Reclaim Is Key 4 days ago
If SOL maintains its position above this trend line, crypto analyst Bens BTC notedthat the price could climb toward the next resistancearea at $165. The price action is forming a bullish structure, and momentum indicators may soon align with the breakout, further supporting the continuation of the upside.
The asset had broken out with strong momentum and is now trading firmly within a long-term bullish channel, a structure that has supported uptrends. The price action looks clean, with higher highs and higher lows forming as SOL surges upward.
Furthermore, analyst Persis10t revealedthat momentum is picking up, and as long as the channel remains intact, the path forward could be explosive. If the structure holds and attracts volume, Persis10t projects a targetof $700+ in the next run, pointing to the upper boundary of the bullish channel as a magnet for price. SOL trading at $149 on the daily chart | Source: SOLUSDT on Tradingview.com Featured image from iStock Images, chart from tradingview.com