- Solana (SOL) currently trades near $170 with a strong $3.5 billion volume and $88.5 billion market cap.
- SOL’s $120-$130 accumulation zone acts as a firm support, showing investor confidence in short-to-medium-term growth.
- The technical analysis reveals an ascending triangle pattern, signaling a potential bullish breakout above the $170 resistance.
- Projected price targets for SOL include $297, $338, and $385, indicating significant upside potential ahead.
Currently, Solana (SOL) is priced at about $170.28, backed by a solid 24-hour trading volume in the region of $3.5 billion and a market cap in the region of $88.5 billion. Although the price has dropped slightly by 6.30% in the past week, 20% in the month shows the underlying strength.
The cryptocurrency has been able to maintain an important accumulation zone in between $120 and $130, and it has provided a solid support base for recent price action. The strength of the zone indicates that investors believe in the short-to-medium-term outlook for SOL.
Solana Technical Analysis Confirms Retest, Breakout
Detailed chart analysis indicates that the price action in SOL has created an ascending triangle, a setup that is widely regarded as a bull signal. The price of the coin has recorded higher lows while it encounters resistance at the $170 mark, consolidating before breaking out.
Importantly, the price tested the $120–$130 support area once again and held firm, confirming this level as a solid demand zone. Following this retest, SOL rallied upward by approximately 38%, moving from the accumulation zone toward its current price point near $166–$170.
This upward movement confirms a positive momentum build-up and sets the stage for a potential impulsive wave that could carry prices substantially higher.
Projected Price Targets Signal Further Upside Potential
Based on the existing technical setup, the price movement for Solana looks set for an important upside movement. Traders have identified three major price targets that can act as benchmarks if the ongoing momentum holds.
The initial target is at $297, an appreciable gain from the current price. The following targets at $338 and $385 foretell still higher desired prices, subject to ongoing market strength and support holding.
Volume trends, while steady, do not currently detract from this outlook. If SOL maintains its position above the critical $120–$130 support zone, it is well-positioned for the next leg of growth, supported by the established ascending triangle pattern and confirmed retest.
In short, Solana displays a solid technical configuration marked by its critical support area remaining firm and the build-up for further upward movement.
Although short-run volatility is likely, the overall trend is positive with high upside targets in the near term. Traders and investors tracking SOL should closely monitor ongoing support holding and breakout confirmation as signs of renewed strength.
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