- Bollinger Band squeeze on 4-hour chart signals price breakout setup
- Solana price eyes $160 and $180 targets if $150 resistance breaks
- On-chain activity and CMF suggest strong buyer momentum continues
Solana (SOL) price is maintaining stability above the $145 mark despite broader market cooling. The asset recently touched $150 for the first time since March 3. This level follows a period when SOL had traded below $100 but managed to recover steadily. The ongoing consolidation reflects reduced selling pressure while the market adjusts to minor corrections.
Solana maintains rising momentum because its transfer volume along with on-chain activity keeps expanding. The market exhibits improved price structure signals that investors intend to become more bullish soon. Traders are currently monitoring the $160 price area due to its importance as the upcoming major resistance barrier. The market revealed modified moods during early May despite experiencing bullish dominance during most of April.
The overall crypto market capitalization reaches $2.97 trillion at present and shows a 0.39% reduction since yesterday. Total market volume experienced a decrease of 17.45% to reach a value of $72.3 billion. The Bitcoin price temporarily fell back to $95,000 during this period as Ethereum prices have sustained their position above the $1,800 support line. The crypto market is under a general holding pattern that affects Bitcoin and all other crypto projects like Solana.
Solana Price Bollinger Band Squeeze Signals Breakout
According to expert Ali Solana (SOL) shows an important technical pattern that stands out on the 4-hour time frame. The Bollinger Bands have tightened in their current position which indicates that a breakout point could be forming soon, based on the X update information.
These bands typically tighten up just before strong price shifts occur either up or down the market. The setup develops after price stays flat which is reflected by the chart attached to the tweet.
The current market value of Solana maintains its position at approximately $150. A diminished volatility pattern appears through the last candle mark in the chart. Short-term squeezes generally come before abrupt price shifts in trading markets.
The analysis of Bollinger Band squeezes presents a common practice among market participants. The formation of these price action patterns serves as a historical indicator of approaching sudden market volatility increases and new trend development. The market direction becomes clear only after a confirmed volume-based and price-based breakout or breakdown transition.
Solana Price Eyes Breakout As $150 Resistance Holds Firm
The Solana price is hovering around the $147 mark after a slight decrease of 1.3% in the past day. The 4-hour chart reveals a consolidating pattern with immediate resistance seen at $150.
The MACD indicator is flattening, with the signal and MACD lines near convergence. This indicates a potential momentum shift, awaiting confirmation. On-chain capital flow remains supportive, with the Chaikin Money Flow (CMF) showing a positive reading of 0.16. This reflects steady inflow and interest from market participants.
If bulls manage to push above this level with rising volume, upside targets will come into focus.
The next immediate target lies at $160, followed by $180 based on horizontal resistance zones. The extended target, derived from the measured breakout projection, stretches toward $200. This marks a potential 35% climb from the current level. On the downside, failure to break $150 could lead to a retest of support at $140. If that level breaks, the next floor lies at $130, where buyers previously stepped in. Breaching $130 would indicate a bearish shift, potentially dragging the price further below.
