Solana (SOL) has shown significant growth, breaking the $166 level, which is the 1.272 Fibonacci level. Analysis of current trends indicates potential new target levels.
Solana Price Levels
Solana (SOL) has broken out of an ascending triangle, surpassing the $166 mark. Traders are watching for the next levels at $171, $179, and $185. The structure shows rising lows and increasing volume, supporting this upward movement.
> "This could be the cleanest breakout I’ve seen all month,” said analyst Ali on X.
SMA and MFI Indicators
Solana trades above its 9-day simple moving average, currently at $158. This indicates that buyers remain active. The slope of the line is pointed upward, supporting the current trend.
Meanwhile, the Money Flow Index (MFI) is at 76.16, which is close to the overbought territory. This reading suggests that funds have flowed in rapidly but also warns of potential profit-taking or price pauses near this level.
Network Activity and ETF Discussions
A recent uptick in the number of active users on Solana's network indicates a growing interest in the platform. This increase in activity typically supports strong price movements.
At the same time, the SEC is reviewing spot ETF applications tied to Solana. If approved, this could open more investment opportunities for SOL.
The Solana market is showing confident signs of bullish trends with breakouts of key levels and increasing audience activity. It is advisable to closely monitor further developments, as they could impact short-term and long-term forecasts.
