Solana (SOL) is approaching its all-time high, showing remarkable achievement after a recent 'breakout'.
Current Situation
A tweet from Crypto Yapper highlighted the recent breakout in Solana following a weeklong consolidation. The analyst's weekly chart shows an ascending triangle pattern established since mid-2023, with a rising trendline at $140 and horizontal resistance at $200.
Solana's Key Price Levels
SOL price recently broke through the $200 resistance zone, often linked to increased trading volume. After this, SOL reached $240 and is nearing the ATH of $259.20. Clearing this resistance could push SOL towards $300 or beyond based on Fibonacci extensions.
Historical Context and Trends
During the late 2021 bull market, Solana hit its ATH and then faced a prolonged decline in 2022. SOL stabilized for more than a year before its current uptrend. As of press time, SOL's price stands at $244.84.
Solana's price continues to rise, showing strong market performance and community support that could lead to new heights if the trend persists.
