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Solana is gaining massive traction as Bitcoin dominance decreases and altcoin season accelerates, with SOL currently testing critical resistance around $188 after breaking above key technical formations.
The cryptocurrency has successfully penetrated the major resistance zone between $175.96 and $185.56, positioning itself for a potential breakout toward 2021 highs near $260.
Technical analysis across multiple timeframes reveals compelling evidence suggesting SOLmmay be entering a significant upward acceleration phase.
The daily chart analysis, with a 2-day timeframe and monthly momentum showing 14.64% gains, indicates that Solana appears well-positioned for its next major growth phase, heading toward new all-time highs.
Ascending Triangle Breakout Targets $260 Resistance
Solana’s daily chart reveals a methodical progression through a well-defined ascending triangle pattern, with the price successfully breaking above the critical $185 – $190 resistance zone.
The technical structure indicates that SOL is holding above the ascending trendline while maintaining key support at $160. EMA positioning provides dynamic support for the continuing bullish trend.
The penetration of major resistance between $175.96 and $185.56 opens the path toward 2021 highs near $260, representing approximately 38% upside from current levels.
Ascending triangle patterns typically resolve with breakouts equaling the height of the pattern’s base, projecting toward the $260 target zone.
Volume analysis shows substantial institutional participation supporting the breakout rather than retail-driven speculation.
RSI at 67.07 suggests room for further advancement before reaching overbought conditions.
Solana Price Prediction: Rounded Bottom Completion Projects $340-350 Targets
The 2-day chart presents the most bullish perspective through SOL’s completion of a massive rounded bottom pattern that has developed over several months.
Solana is currently at $186.78 and has successfully retested the breakout level, confirming the pattern’s validity following the curved formation that delineates the reversal structure.
The pattern shows SOL declining from highs around $270, finding support at $105-110, then gradually building a base through higher lows.
The recent breakout above $180 resistance represents the completion of the pattern’s right shoulder.
Rounded bottom patterns typically project targets equal to the pattern’s depth, added to breakout levels.
Given the approximately $160 depth from $270 to $110, this suggests potential targets in the $340-350 range once the measured move phase completes.
The monthly chart perspective shows SOL approaching the $265 previous cycle high that must be overcome to enter uncharted territory toward new all-time highs.
Best Wallet: Final Weeks to Secure $BEST Token Allocation
Solana’s technical breakout toward a potential new ATH levels creates an urgent opportunity for early-stage exposure to the Solana ecosystem infrastructure.
Best Wallet’s $BEST token presale is entering its final weeks with limited allocation remaining before the window closes permanently.
Early investors are securing positions in the comprehensive, multi-chain platform, which is well-positioned for SOL’s explosive growth phase.
The $BEST token unlocks exclusive presale launchpad access and staking rewards essential for navigating Solana’s technical acceleration.
Early investors have priority access to early-stage Solana projects through Best Wallet’s launchpad, which becomes increasingly valuable for portfolio diversification beyond direct SOL exposure.
Best Wallet’s version 2.5.1 offers a secure, non-custodial architecture with Fireblocks MPC integration, alongside support for over 60 blockchains, including comprehensive Solana functionality.
The built-in DEX enables optimal SOL swap pricing during volatile breakout conditions, while upcoming Best Card integration allows spending gains with up to 8% cashback.
With SOL potentially facing 38-80% upside moves toward $260-350 targets, the limited remaining $BEST token allocation, and approaching presale completion, creates a final opportunity window for investors looking to capitalize on the rally with a promising project.
The post Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL appeared first on Cryptonews.
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
Enroll now and gain industry-standard knowledge: Enroll Now!
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