- Solana price is forming a bullish cup and handle pattern.
- A breakout above $150 could drive price action toward $200.
- Support near $140 remains strong after multiple retests.
Solana (SOL) price continues to hover around the $140 support level as bulls attempt a recovery. The asset remains in consolidation, reflecting the broader market’s sideways movement. Despite limited momentum, SOL maintains a slightly upward structure when observed over time.
Daily trading volume has risen to $2.2 billion, marking a 20.78% increase. Bitcoin remains below the $95,000 mark, while Ethereum stays near $1,800. Other altcoins like XRP, DOGE, and DOT are showing minor declines. Although SOL’s movement appears uncertain, the underlying structure suggests that bullish momentum remains intact as long as support levels hold steady.
Solana Eyes Breakout Toward $200 Price Level
A crypto analyst observed an essential breakout pattern forming on Solana SOL approaching essential resistance levels. The rebound from $114 marks a test for SOL at its long-standing descending trendline’s upper border. Market observers have identified a critical price area between $132 and $147 to monitor for major price movements.
A successful price breakout above the trendline alongside a retesting move would increase the possibility of reaching $200. A breakout from the charted zone indicates likely transitional patterns between consolidation and bullish continuation. Should momentum persist, further upside toward the $263 area could emerge, signaling renewed strength in the SOL market.
Solana Forms Bullish Cup and Handle, Eyes Breakout Toward $1000
The crypto expert found a fundamental cup and handle pattern in Solana (SOL) price data, which might trigger an upward movement. A bullish pattern appears across the long-term chart where SOL makes higher highs while forming a shallow handle consolidation pattern.
Analysts believe the established uptrend might persist if SOL breaks out through the neckline resistance. The setup allows analysts to predict a rapid price jump above $200 and indicates extended price potential reaching $1,000 or higher.
SOL Price Hovers Below $150 Amid Market Consolidation
The Solana price is currently consolidating beneath the $150 level, showing signs of hesitation after its recent upswing. The daily chart reveals that the price hit an intraday high of $146 before slipping back to $144. Despite the broader recovery from the March lows, bulls face resistance near this critical zone. The RSI has dropped to 53, indicating a cooling bullish trend. The RSI still holds above the midline, keeping a neutral to mildly bullish stance.
The MACD indicator reveals a narrowing distance between the MACD and signal lines. The histogram is gradually turning negative, suggesting a possible bearish crossover if momentum continues to fade.
Support is now observed at $130, which has held firm through several retests. This level forms the lower boundary of the short-term range. A strong move below $130 may trigger selling pressure, with the next support near $115. Conversely, a successful push above $150 could allow bulls to test the $180 level, with $200 as the extended upside target.
