Solana’s breakout hinges on clearing $188.59 resistance, as volume and ETF speculation drive momentum toward $259 and higher.
Higher lows since 2022 and support at $155.35 highlight Solana’s bullish structure, with $109.48 acting as a critical checkpoint.
Rebounding from the 200-week MA, Solana targets $260.30 if it breaks the $209–$226 resistance band, signaling macro bullish continuation.
Solana (SOL) is showing strong technical momentum as it hovers near critical resistance zones, buoyed by renewed ETF speculation. Traders are watching closely as price action inches toward decisive levels, with both volume and sentiment ticking upward.
Price Convergence at Resistance Signals a Major Decision Point
Recent developments place Solana in a tightly coiled setup between entrenched support and rising resistance. With bullish catalysts building, technical precision will be key to the next directional move. Analysts now highlight levels that could either trigger continuation or trap late buyers.
As price reclaims resistance at $163.65, the analysis focuses on structure and confirmation signals. According to the analyst, Solana’s rebound from the 200-week MA in April signaled trend re-engagement, yet current positioning near former support-turned-resistance adds pressure. This band, active since early 2022, continues to reject advances. Failed breakouts at this level in mid-2024 led to double-digit drawdowns, evidence of heavy overhead supply.
The analysis also points to a well-defined weekly resistance zone between $209.25 and $226.30, tested twice since the 2021 top. If SOL clears this band on volume, upside momentum could stretch toward $260.30, analysts show. Still, short-term risk remains to the downside, with support at $109.48 aligned with both the 100- and 200-week moving averages. This confluence acts as a bullish checkpoint, especially since price respected it in late 2023 and Q1 2025.
Moreover, the weekly chart continues to print higher lows since the 2022 bottom, suggesting the bullish structure remains intact. Notably, volume spikes around accumulation zones hint at institutional presence, particularly during the $78 to $200 surge in early 2024.
Daily Trendline Defines Near-Term Momentum Shift
Solana currently trades at $167.03, nearing a key descending trendline that has capped every rally since January. This line connects highs at $237.58, February’s peak, and May’s short-lived breakout. Price now presses upward, setting the stage for either rejection or breakout.
Support at $155.35 held firm multiple times, reinforcing the range-bound nature of recent months. Any downside rejection may again revisit $127.13, a level marked by deep wicks and swift reversals.
Momentum now hinges on clearing $188.59, a horizontal resistance that rejected price in both May and February. A close above this zone could shift sentiment fully bullish, if volume confirms the breakout.
Could Solana Ignite a Run Toward New Highs?
According to Market Maestros, Solana already triggered a breakout from a descending channel, retested, and now eyes $259 and beyond. With higher lows and ETF optimism aligning, their analysis frames the current move as a macro breakout setup. The question is: will buyers hold conviction long enough to push through $188.59 and aim for new all-time highs?
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Support at $155.35 and ETF Buzz: Solana Builds for a Bullish Continuation
Solana’s breakout hinges on clearing $188.59 resistance, as volume and ETF speculation drive momentum toward $259 and higher.
Higher lows since 2022 and support at $155.35 highlight Solana’s bullish structure, with $109.48 acting as a critical checkpoint.
Rebounding from the 200-week MA, Solana targets $260.30 if it breaks the $209–$226 resistance band, signaling macro bullish continuation.
Solana (SOL) is showing strong technical momentum as it hovers near critical resistance zones, buoyed by renewed ETF speculation. Traders are watching closely as price action inches toward decisive levels, with both volume and sentiment ticking upward.
Price Convergence at Resistance Signals a Major Decision Point
Recent developments place Solana in a tightly coiled setup between entrenched support and rising resistance. With bullish catalysts building, technical precision will be key to the next directional move. Analysts now highlight levels that could either trigger continuation or trap late buyers.
As price reclaims resistance at $163.65, the analysis focuses on structure and confirmation signals. According to the analyst, Solana’s rebound from the 200-week MA in April signaled trend re-engagement, yet current positioning near former support-turned-resistance adds pressure. This band, active since early 2022, continues to reject advances. Failed breakouts at this level in mid-2024 led to double-digit drawdowns, evidence of heavy overhead supply.
The analysis also points to a well-defined weekly resistance zone between $209.25 and $226.30, tested twice since the 2021 top. If SOL clears this band on volume, upside momentum could stretch toward $260.30, analysts show. Still, short-term risk remains to the downside, with support at $109.48 aligned with both the 100- and 200-week moving averages. This confluence acts as a bullish checkpoint, especially since price respected it in late 2023 and Q1 2025.
Moreover, the weekly chart continues to print higher lows since the 2022 bottom, suggesting the bullish structure remains intact. Notably, volume spikes around accumulation zones hint at institutional presence, particularly during the $78 to $200 surge in early 2024.
Daily Trendline Defines Near-Term Momentum Shift
Solana currently trades at $167.03, nearing a key descending trendline that has capped every rally since January. This line connects highs at $237.58, February’s peak, and May’s short-lived breakout. Price now presses upward, setting the stage for either rejection or breakout.
Support at $155.35 held firm multiple times, reinforcing the range-bound nature of recent months. Any downside rejection may again revisit $127.13, a level marked by deep wicks and swift reversals.
Momentum now hinges on clearing $188.59, a horizontal resistance that rejected price in both May and February. A close above this zone could shift sentiment fully bullish, if volume confirms the breakout.
Could Solana Ignite a Run Toward New Highs?
According to Market Maestros, Solana already triggered a breakout from a descending channel, retested, and now eyes $259 and beyond. With higher lows and ETF optimism aligning, their analysis frames the current move as a macro breakout setup. The question is: will buyers hold conviction long enough to push through $188.59 and aim for new all-time highs?
The post Support at $155.35 and ETF Buzz: Solana Builds for a Bullish Continuation appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.