- Solana (SOL) trades at $194.77 after a 4.55% daily decline, maintaining a 10.27% gain over the past week.
- Price structure forms an ascending triangle, with resistance near $210 and key support around $185–$190.
- In the event SOL volume closes above $210, analysts forecast breakout routes towards $250, $290, $320, and $360.
Solana (SOL) is currently consolidating near $194 and forming an ascending triangle formation and thus an accumulation ahead of potential breakout
Ascending Triangle Indicates Market Strength
Since April, Solana has repeatedly tested horizontal resistance near $210 without clearing it. At the same time, a rising trendline has supported higher lows. This consistent accumulation pattern indicates that buyers are absorbing sell pressure at progressively stronger levels.
Ali (@ali_charts) shared on X notes that Solana may offer “a final buy-the-dip chance before targeting $360,” suggesting a brief pullback could precede a rally. His chart outlines a path where price revisits $190–$200 before surging past resistance.
If SOL continues to trade above $210 with even a significant rise in volume, the analysts are anticipating that the bullish force will propel the price to even higher Fibonacci extension quotes. This configuration coincides with patterns that tend to resolve upward some 70 percent of the time.
Current Price Levels and Key Support Zones
Solana is selling at 194.77 as of writing, and it has a 24-hour trading volume of 12,415,609,482. Although the daily change is a loss of 4.55%, SOL is up 10.27% in the week. This performance indicates the dearness of market participants who were keeping exposure as the market thinned out.
The price structure has a severe support at the rising trendline close to $185190. Any brief dip toward this zone may serve as an entry point for traders anticipating continuation. As long as this level holds, the overall pattern remains intact.
Failure to maintain support would weaken the ascending triangle and delay any breakout attempt. However, the series of higher lows signals that the market remains firmly in accumulation rather than distribution.
Breakout Targets Point Toward $360
Ali’s projection marks potential targets at $250, $290, $320, and ultimately $360, derived from Fibonacci extension levels plotted above the $210 breakout zone. These levels may serve as checkpoints for price advances.
The narrowing price action inside the triangle suggests compressing volatility, often preceding strong directional movement. A decisive break above resistance would likely prompt short covering and attract momentum buyers.
Short-term traders observing the structure are keen on confirmation indicators like the bullish action on the breakout (good volume) and holding anything above the 12-hour or daily close above 210. Such conditions would confirm a bullish picture and pave the way to the highs.
