- Solana breaks a descending trendline on the hourly chart, with volume backing a push toward $155–$160 in short-term momentum.
- Strong hourly volume and higher lows confirm a bullish breakout, with $153 as the key level to extend the current rally.
- A wedge breakout on a 4-hour chart in favor of upside continuation, with $147.50–$148.00 being crucial pullback support.
Solana (SOL) broke above a falling trendline on the hourly chart, confirming the potential for bullish continuation. Market watchers are watching the move and expect price targets between $155 and $160 in the short term.
Hourly Breakout Adds Bullish Momentum
Solana’s hourly chart displays a sharp recovery pattern following a recent downtrend and breakout above key resistance. Price action shows higher lows and a confirmed breakout candle, backed by rising volume and buying strength.
Source: Satoshi Owl
As we can see from the post above, bullish analyst Satoshi Owl has provided insights into Solana’s breakout structure. The hourly chart on Binance shows SOL trading at $151.50, with volume reaching 69.97K for the current candle. According to Satoshi Owl, the price has cleared a descending trendline formed from repeated lower highs starting near $153.
Satoshi noted that Solana’s price recently broke past this trendline, closing near session highs, which suggests growing upward momentum. The analyst also pointed out a clear pattern of consolidation between $149 and $150 before the breakout. Volume spikes confirmed bullish intent, with the breakout candle backed by stronger trading activity than previous hourly bars.
This move followed a sharp V-shape recovery from below $140 on May 1, reversing a steep April 30 decline. Since then, SOL has formed a series of higher lows, with tight candle ranges suggesting price stability. Satoshi highlighted $153 as a key resistance level, adding that bulls must reclaim it to extend the rally further.
Wedge Breakout on Higher Timeframe
What’s even more compelling is that another bullish analyst, Debar. Sol has presented a similar breakout thesis on the 4-hour chart. He identified a descending wedge pattern that developed between April 23 and May 1. This structure was formed with sloping resistance and flat support near $145, which held firm during repeated tests.
Source: Debar.Sol
Debar.sol noted a decisive breakout on May 1, marked by a strong candle closing above $149 with volume of 98.14K SOL. The analyst confirmed the breakout’s strength with a clean close above wedge resistance and projected a move toward $155.41. The breakout aligned with a prior swing high, reinforcing it as a likely target.
Not only that, but there’s also strong price behavior above $150, which supports continuation if the structure holds. He also marked $147.50–$148.00 as key support if a pullback occurs. This setup suggests a bullish trend may continue as long as the price stays above the wedge’s upper boundary.
