Solana is gaining massive traction as Bitcoin dominance decreases and altcoin season accelerates, with SOL currently testing critical resistance around $188 after breaking above key technical formations.
The cryptocurrency has successfully penetrated the major resistance zone between $175.96 and $185.56, positioning itself for a potential breakout toward 2021 highs near $260.
Technical analysis across multiple timeframes reveals compelling evidence suggesting SOLmmay be entering a significant upward acceleration phase.
The daily chart analysis, with a 2-day timeframe and monthly momentum showing 14.64% gains, indicates that Solana appears well-positioned for its next major growth phase, heading toward new all-time highs.
Ascending Triangle Breakout Targets $260 Resistance
Solana’s daily chart reveals a methodical progression through a well-defined ascending triangle pattern, with the price successfully breaking above the critical $185 – $190 resistance zone.
Source: TradingView
The technical structure indicates that SOL is holding above the ascending trendline while maintaining key support at $160. EMA positioning provides dynamic support for the continuing bullish trend.
The penetration of major resistance between $175.96 and $185.56 opens the path toward 2021 highs near $260, representing approximately 38% upside from current levels.
Ascending triangle patterns typically resolve with breakouts equaling the height of the pattern’s base, projecting toward the $260 target zone.
Volume analysis shows substantial institutional participation supporting the breakout rather than retail-driven speculation.
RSI at 67.07 suggests room for further advancement before reaching overbought conditions.
Solana Price Prediction: Rounded Bottom Completion Projects $340-350 Targets
The 2-day chart presents the most bullish perspective through SOL’s completion of a massive rounded bottom pattern that has developed over several months.
Source: Crypto Tigers on X
Solana is currently at $186.78 and has successfully retested the breakout level, confirming the pattern’s validity following the curved formation that delineates the reversal structure.
The pattern shows SOL declining from highs around $270, finding support at $105-110, then gradually building a base through higher lows.
The recent breakout above $180 resistance represents the completion of the pattern’s right shoulder.
Rounded bottom patterns typically project targets equal to the pattern’s depth, added to breakout levels.
Given the approximately $160 depth from $270 to $110, this suggests potential targets in the $340-350 range once the measured move phase completes.
The monthly chart perspective shows SOL approaching the $265 previous cycle high that must be overcome to enter uncharted territory toward new all-time highs.
Best Wallet: Final Weeks to Secure $BEST Token Allocation
Solana’s technical breakout toward a potential new ATH levels creates an urgent opportunity for early-stage exposure to the Solana ecosystem infrastructure.
Best Wallet’s $BEST token presale is entering its final weeks with limited allocation remaining before the window closes permanently.
Early investors are securing positions in the comprehensive, multi-chain platform, which is well-positioned for SOL’s explosive growth phase.
The $BEST token unlocks exclusive presale launchpad access and staking rewards essential for navigating Solana’s technical acceleration.
Early investors have priority access to early-stage Solana projects through Best Wallet’s launchpad, which becomes increasingly valuable for portfolio diversification beyond direct SOL exposure.
Best Wallet’s version 2.5.1 offers a secure, non-custodial architecture with Fireblocks MPC integration, alongside support for over 60 blockchains, including comprehensive Solana functionality.
The built-in DEX enables optimal SOL swap pricing during volatile breakout conditions, while upcoming Best Card integration allows spending gains with up to 8% cashback.
With SOL potentially facing 38-80% upside moves toward $260-350 targets, the limited remaining $BEST token allocation, and approaching presale completion, creates a final opportunity window for investors looking to capitalize on the rally with a promising project.
The post Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL appeared first on Cryptonews.
