- Solana breaks $205 resistance with soaring market cap.
- Technical signals show a breakout rally gearing up toward the $360 mark soon.
- Market cap Momentum builds as traders eye a powerful rally.
Solana SOL just flipped a key resistance at $205, igniting serious bullish momentum. With market cap surging and charts flashing green, all eyes are now on $360 as traders gear up for the next explosive move.
SOL Breaks Out: A Triangle Pattern Points to Higher Targets
According to technical analysis shared by charts analyst Ali Martinez on X, Solana has officially broken above a long-standing resistance at $205.78. The chart, based on Binance’s 12-hour SOL/USDT perpetual contract, reveals an ascending triangle formation that has been building since early March 2025. Price action shows a clear uptrend, marked by higher lows and a horizontal resistance line that has now been breached, with SOL trading around $207.52.
The breakout is not just symbolic — it’s supported by volume and structure. Fibonacci retracement levels, drawn from the March low of $100.22 to the previous resistance high of $205.78, confirm strong support at $176.42 (0.786 level) and a full reclaim of the 1.0 Fibonacci level at $205.78. The current movement above this resistance line signals a strong shift in market sentiment.
Fibonacci Extensions Outline the Road Ahead
With the triangle breakout confirmed, Fibonacci extension levels provide a clear roadmap for possible targets. The 1.272 extension sits at $250.26, followed by $277.18 at the 1.414 level. The 1.618 extension suggests a more aggressive upside toward $320.99, with the 1.786 extension stretching the potential to $362.23.
These targets are not out of reach. The triangle pattern has historically been a strong continuation signal in bullish trends, and Solana’s current technical setup aligns with this. Momentum is clearly on the bulls’ side, especially after the breakout above a resistance that held since April.
Weekly Strength and Market Cap Surge Confirm Breakout
As at writing time, Solana (SOL) is holding steady at $206.73, backed by a massive 24-hour trading volume of over $6.73 billion. The token has gained 1.58% on the day and 7.26% this week, showing strong bullish momentum.Market capitalization data between August 18 and 24 shows a sudden bullish shift. After days of stagnation below $100B, Solana’s market cap surged past $114B on August 23, backed by increased volume. This rally added over $20B in value within 24 hours, a sign of renewed investor confidence and inflow.
