- Solana breaks above key resistance, forming higher lows and signaling strong bullish momentum targeting $242.99 and beyond.
- SOL confirms trend reversal with an inverse head and shoulders breakout, supported by volume spikes and sustained above the 50-day MA.
- Consolidation around $174 within an ascending channel suggests strong investor confidence and potential for further upside into summer.
Solana (SOL) has solidified its bullish recovery, breaking above a key technical structure and holding strong above $160. Currently trading at $167.40, SOL gained 4.29% with an intraday high of $174.88. The breakout from an inverse head and shoulders pattern has shifted the trend decisively bullish. This pattern completed after SOL rebounded from $100 support in April 2025, marking the end of its corrective phase. Consequently, traders now eye price targets at $242.99, $276.04, and $307.54.
SOL’s 2-day timeframe reveals a dramatic shift in market structure. From January to March 2025, the token dropped 60%, sliding from $260 to $100. However, it found solid support at the $100 level in early April. Besides, the breakout from the descending channel signaled the beginning of a fresh uptrend. Significantly, the price has continued to form higher lows and higher highs. This is a strong technical indicator of sustained bullish strength.
Breakout Pattern Confirms Trend Reversal
The breakout formed as part of a classic inverse head and shoulders setup. This pattern triggered renewed bullish interest and pushed SOL above $160 resistance. That same zone acted as support in February and now serves as a launchpad for more upside. Moreover, price action has respected an ascending channel since April. This structure is clearly defined by upward-sloping parallel trendlines.
Source: Rose Premium
Additionally, consolidation near $174 reflects healthy momentum. SOL’s ability to hold within this bullish channel further confirms investor confidence. Significantly, it has stayed above the 50-day moving average, supporting the ongoing upward trend.
Volume Spike Supports Bullish Sentiment
Volume levels surged during critical points—particularly during the April breakout and the March bottom. This confirms strong buyer presence at technical inflection points. Hence, the surge in interest around these levels enhances the credibility of this breakout. Moreover, the 2-day timeframe filters short-term volatility and offers a clear view of the medium-term trend.
Looking ahead, the roadmap is clear. The first major target is $242.99, about 45% higher than current prices. If momentum continues, SOL could reach $276.04 and then $307.54 by mid-to-late summer. However, any dips back to $150–$160 may offer strategic buying opportunities.
