- Solana breaks its 8-hour trendline with strong momentum, forming a bullish structure that may lead toward the $165 resistance zone.
- RSI levels and price structure confirm short-term strength as Solana reclaims $151, with buyers defending key intraday supports.
- Tight spreads and steady volume suggest controlled bullish intent, though rejection near $165 could drag SOL back to $140–$145.
Solana (SOL) is suggesting a possible reversal after breaking its 8-hour declining trendline, which has limited price movement since early June. The cryptocurrency is presently trading above $151, with strong momentum developing near a critical inflection point.
Technical Shift Unlocks Short-Term Upside Setup
Solana’s recent breakout interrupts its series of lower highs, replacing the bearish channel with a new, short-term bullish structure. Traders are now turning attention toward the $160–$165 zone, where multiple June rejections created strong resistance. The broader market still lacks confirmation of a full trend reversal, but intraday signals are firming up.
After the breakout phase, market analyst Bluntz observed that Solana had cleanly pierced its downtrend overnight, noting that momentum could now accelerate into next week. According to Bluntz, the move above the trendline, combined with rising interest across the Solana ecosystem, indicates growing confidence among buyers.
He also pointed to the bullish candle that carried SOL from $148.14 to $152.73, saying this structure disrupts the previous pattern of consistent lower highs.
Assessing Solana’s indicators, Bluntz adds that the Relative Strength Index (RSI) reached 61.23 intraday before settling near 57.08-neutral but leaning bullish. He believes this reading reflects increasing strength without signaling overbought conditions. Furthermore, tight spreads between $151.35 and $151.36 highlight active liquidity, which supports further upside attempts. While the asset remains far below its $200 April high, he suggests that reclaiming the $160–$165 area could open up a larger continuation window.
Price Holds Support as Intraday Rotation Continues
Solana traded between $149.50 and $152.80 throughout June 29, with early selling pressure quickly offset by midday recovery. Despite an initial drop below $150.20, SOL rebounded strongly by 14:00 UTC before retreating again. The session closed around $150.70, maintaining structure above key support.
Source: CoinGecko
Volume remained constant with no major inflows or outflows, showing balanced participation rather than speculative spikes. The historical context also shows that since 2024, Solana has created a more stable base, with lower volatility and decreasing excess volume. The latest consolidation phase is a sign of a mature chart that’s slowly moving towards higher lows.
What matters next is whether Solana can defend the $150 breakout zone and test higher resistance at $165. As Bluntz implied, the higher low and trendline break could continue attracting momentum traders. However, failure to hold above $150 could bring $140–$145 back into view as support. Solana’s structure now leans bullish, but remains sensitive to rejection.
