Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana (SOL) has once again stepped into the spotlight as analysts weigh in on its potential price trajectory. Despite recent volatility and declines, a new technical analysis suggests that the altcoin could be gearing up for a major movethat could see its price skyrocket to around $268. Ascending Triangle Reveals Solana Next Targets
For months, the price of Solana has been trading sideways despite hitting an all-time highof $293 in January 2025. Due to the prolonged volatility and price fluctuations, many had presumedthe popular altcoin dead. But the charts suggest otherwise. Related Reading Ethereum Leads $3.75 Billion Crypto Inflows, XRP And Solana Join The Party 1 day ago
Jonathan Carter, a crypto market technician on X social media, has highlighteda compelling structure on the Solana daily chart, pointing out that the altcoin’s price is currently retesting the upper boundary of a long-formed Ascending Triangle. According to Carter, this retest comes after a previous false breakout, which initially trapped bulls and sent Solana back into consolidation. This time, however, the setup appears more promising, with SOL finding consistent support along its ascending trendline while gradually settling against resistance.
Carter noted that Solana’s daily structure shows clear resistance zones around the $180 – $185 levels, which have capped price advances several times throughout the year. A confirmed bounce from the region could open the door for SOL to reclaim higher targets at $205 and $225, with an eventual breakout setting up a run toward $268. With the altcoin currently sitting at $181, a surge to these upper targets would represent a solid increase of 13.26%, 24.31%, and 48.07%, respectively. Source: Jonathan Carter on X
Based on the analyst’s chart, the presence of the 100-day Moving Average (MA)just below current levels provides additional confirmation for a potential bullish reversal. At the same time, volume patterns suggest growing interest in accumulation. For now, Carter highlights that Solana’s price remains range– boundbetween $165 and $190. However, the tightening structure of the Ascending Triangle signals that a breakout may be near.
If buyers manage to defend the current zone, Solana’s recovery could become potentially stronger, particularly considering its historyof sharp rallies once market conditions improve and resistance levels are cleared. Short-Term Pullback Before Rally?
In other news, crypto analyst Ali Martinez has also shared insights on Solana’s price action, predicting that the altcoin may experience a temporary pullbackbefore staging its next rally. His 8-hour chart, postedon X, suggests that SOL, currently trading above $181, could face downside pressure that brings the price closer to $160. Related Reading Solana Is Not Dead? This Upper Boundary Retest Could Set The Stage For $268 5 hours ago
This projected correction would not necessarily invalidate Solana’s bullish thesis; instead, Martinez assertsthat it could present an opportunity for strategic buyers to accumulate before the next upward leg. The analyst identifies the $160 region as a key support area where buyers will likely prevent further price declines. In this context, Solana’s projected weakness could act as a springboard for a stronger rebound. SOL trading at $181 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com