Solana Technical Analysis: 18 APR 2025
Solana flips the trend bullish after holding its breakout support. Source: TradingView
General View
On the lower time frames, Solana has been in a strong uptrend since that major dump in early April. Recently, bulls have initiated a breakout from the falling wedge pattern and are now setting up for another potential breakout, this time through an ascending triangle, which suggests further continuation ahead. Solana is soon to test the congestion zone, which holds the breakout key as well
On The Upside
For Solana, the immediate resistance is positioned at $135 to $136 levels. A decisive break above this zone would likely trigger upside momentum toward the first intra-day resistance at $137.35, followed by the second target at the $139.05 level. This is where some profit-taking is expected.
On The Downside
Trendline support near $133.50 remains crucial. As long as the price holds above this rising trendline, the bullish structure remains intact. However, a breakdown below this level would invite fresh short-term selling pressure, which can drag Solana lower into $130.70 and potentially $128.
Solana is in another bullish ascending triangle pattern. Source: TradingView
