Currently, Solana (SOL) is trading at $194.77 after a 4.55% daily decline, while showing a 10.27% gain over the past week. The price pattern indicates an ascending triangle with resistance near $210 and key support in the $185–$190 range.
Ascending Triangle Indicates Market Strength
Since April, Solana has repeatedly tested horizontal resistance around $210 without clearing it. At the same time, a rising trendline supports higher lows. This consistent accumulation pattern indicates buyers are absorbing sell pressure at progressively stronger levels.
Current Price Levels and Key Support Zones
Solana is selling at $194.77 as of writing, with a 24-hour trading volume of 12,415,609,482. Although the daily change shows a loss of 4.55%, SOL is up 10.27% over the week. This performance indicates the interest of market participants maintaining exposure despite thinned market conditions. The price structure has significant support at the rising trendline close to $185–190. Any brief dip toward this zone may serve as an entry point for traders anticipating continuation.
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.
Solana continues to show signs of accumulation, which may hint at positive future movements in the market. However, maintaining key support levels will be crucial for future developments.
