Solana's price recently broke triangle resistance, triggering bullish signals across multiple timeframes. Analysts project a price rise to levels between $164 and $251.
Overview of Recent Price Surge
Currently, Solana's price is trading at $158, which is up 1.75% compared to last week. Analyst Ali Martinez confirmed that Solana's price broke through the triangle resistance at $152, a key level for further growth.
Target Levels for Solana
Analyst Batman provided a broader harmonic outlook, linking the potential for Solana's price to reach $187 initially and then up to $251. The formation known as the Bat Pattern indicates that the price touched point D near $135.50 and has since shown a strong rebound.
Derivatives and Market Data
CoinGlass data from the derivatives market shows strong backing for the bullish move. Solana's futures trading volume increased by 28.37% in the last 24 hours, reaching $1.42 billion. Open interest also rose by 4.98%, indicating growing trader confidence in the price's upward continuation.
Recent price movements of Solana, supported by positive technical indicators and derivatives data, hint at a potential rise toward $251. Monitoring key resistance and support levels remains crucial.
