Solana Triangle Formation Breakout Targets Rally To $164 – Is A Recovery Around The Corner?
Summary
Solana (SOL) has rebounded from a recent market pullback, recovering from a low of $95 in April and surging 2.45% weekly after bouncing off the $140 area. The cryptocurrency formed an ascending triangle pattern, reclaiming the $150 level as support. Analysts suggest a potential rise to $164 if SOL breaks through the $160 resistance, with further gains possible toward $180 and potentially $200. SOL has been consolidating in a descending channel between $140 and $187 since late May but broke out after reclaiming $155. Market watchers indicate that global political factors may influence its price trajectory. Currently, Solana trades at $156, reflecting a 1.88% daily increase.
