- Solana forms an ascending triangle with $180 resistance; breakout could target $195 to $210.
- Wallets holding 0.1+ SOL hit 11.16M, indicating strong adoption and growing user base.
- Solana leads weekly revenue charts with $40M in fees, surpassing Ethereum.
Solana’s (SOL) price action continues to attract market attention as technical charts suggest a breakout from an ascending triangle may be in progress. The asset is holding above key support levels and pushing against resistance near $178, with analysts projecting a possible move toward $180 in the short term.
Technical Pattern Points to Continued Momentum
According to analysis prepared by Coinvo, Solana is maintaining its uptrend while trading above a reliable trendline support near $170. Price structure on the 4-hour chart shows consistent higher lows meeting horizontal resistance at the top of the triangle. This setup reflects the common ascending triangle formation.
As SOL tests the upper boundary of the pattern, market watchers are monitoring trading volume closely. A confirmed breakout above the $180 resistance zone could trigger further gains toward $195 and beyond. The RSI is above 50, indicating healthy momentum, while the MACD shows continued strength in the bullish zone.
Chart data from TradingView shows that SOL has stayed within the ascending channel since April. It has also avoided any breakdowns below the lower trendline, which has served as a critical support. The bullish continuation pattern remains intact as long as the price holds above $170.
On-Chain Growth and Revenue Support Price Action
According to an observation by analyst Ali Martinez, wallet addresses holding at least 0.1 SOL have reached 11.16 million, a new all-time high. This data suggests increasing grassroots adoption and expanding network participation, both of which add to the broader bullish sentiment.
In parallel, Solana has topped weekly network revenue charts. Based on data shared by Christiaan via X, the protocol generated over $40 million in weekly fees, outperforming Ethereum and other major chains. The combination of rising usage and revenue provides a strong backdrop for further price action.
As the asset holds near $177, chart analysis also shows a potential target of $210 in sight if resistance levels are cleared. The next 48 hours may prove key in confirming whether the breakout sustains.
