Solana is showing renewed technical strength as its native token, SOL, surged above a key descending trendline, signaling a shift in market sentiment. Recent price action has put the spotlight on short-term resistance levels between $77.50 and $98, with analysts indicating that a confirmed move beyond these levels could pave the way toward a $120 target.
USDT
AAPLTechnical breakout follows prolonged consolidation
After weeks of consolidation, Solana has attempted a bullish breakout from a large symmetrical triangle pattern on the daily SOL/USDT chart. The token recently moved above the descending resistance line near $75, aligning with chart analysis by Ted Pillows, an independent analyst. This move suggests the long period of volatility compression may be coming to an end, potentially unleashing further upward momentum.
SOL is currently trading near $76.56, marking a daily gain of approximately 3.9%. This upward push allowed the token to overtake the trendline that has constrained growth since the market reached near $99 earlier in the year.
The identified triangle consisted of converging trendlines: a descending resistance line and a rising support line that originated around the June low at $60. As prices repeatedly bounced off rising support, volatility continued to narrow until the latest breakout attempt.
The immediate technical question is whether SOL can confirm this move. A daily close above the previous resistance zone at $74–$75, supported by further buying, would reinforce the bullish case. The next resistance cluster is situated between $77.50 and $80, a region where multiple rallies have previously stalled.
If buyers succeed in defending the former breakout area, now viewed as support near $74–$75, it would suggest an improving market structure. Below that, the rising trendline around $72–$73 serves as a secondary support level. Conversely, a decisive break below these zones would risk invalidating the bullish outlook stemming from the triangle formation.
Technical analysis points to Solana needing to hold above $74–$75 and move past resistance at $77.50–$80 to keep the bullish pattern intact. A confirmed breakout could lift targets toward $120 if follow-through buying continues.
For now, upbeat momentum gives Solana bulls a technical advantage. However, market participants are closely watching for confirmation through sustained closes above resistance, as well as durable support retests.
Key levels and $120 target in focus
Analyst Michaël van de Poppe, known for his technical analysis in digital assets, highlighted a higher-low structure supporting the bullish recovery scenario. His daily Solana chart shows SOL holding the support region in the low $70s after rebounding from its June deviation, suggesting that maintaining this structure gives buyers a fresh opportunity to challenge nearby resistance before aiming for $120.
SOL is currently positioned near $74.82 on van de Poppe’s chart, sitting at a critical horizontal support area that traders are watching closely. This level became prominent after Solana spent several months trading in a wide band between the mid-$60s and near $98. A brief drop below this range in June proved temporary, as the token quickly recovered, forming what is now seen as a meaningful higher low.
The chart indicates the next immediate target is the $85–$88 band, considered the first major test for continuing upward momentum. Should SOL clear this area, the next significant resistance awaits near $97.89—the upper limit of the earlier multi-month trading range.
| Level | Support/Resistance | Significance |
|---|---|---|
| $74–$75 | Support | Breakout confirmation zone |
| $77.50–$80 | Resistance | Multiple failed rallies |
| $85–$88 | Resistance | Initial bullish test |
| $97.89 | Resistance | Range high |
| $120–$127 | Target | Analyst projection |
Van de Poppe’s analysis indicates that, if these resistance points are surpassed while support levels are maintained, SOL may attempt a rally toward the $120–$127 region. This scenario hinges on the higher-low structure holding firm; a breakdown below the low-$70s would challenge the bullish view and bring the June lows back into play.
The analyst’s target reflects market optimism for Solana’s medium-term outlook, as long as technical levels continue to align with positive momentum. Traders are now monitoring whether SOL can build upon this breakout, paving the way for a stronger advance in the coming weeks.
Mini dictionary: Symmetrical triangle, a chart pattern formed by two converging trendlines that represents a period of consolidation, often resolving with a breakout in either direction.
