- Solana’s symmetrical triangle pattern signals a possible breakout above $153, targeting $164.
- Positive momentum indicators like MACD and neutral RSI support the bullish scenario.
- SOL’s inclusion in ETF filings and network activity growth enhance its bullish fundamentals.
- Rising tokenized asset adoption and active users show Solana’s ecosystem expansion.
Solana Approaches Critical Breakout Amid Growing Optimism
Solana (SOL) is making headlines again, with strong technical and fundamental signs pointing to a potential rally toward $164. Market watchers highlight the symmetrical triangle pattern on SOL’s 4-hour chart, with $153 acting as the immediate resistance level to watch. A breakout here could mark the beginning of Solana’s next bullish leg.
Crypto analyst Ali from COINOTAG notes that rising buying volume could trigger this move, while broader market factors like ETF interest and regulatory progress amplify the bullish setup.
Technical Analysis: $153 Breakout Could Open the Path to $164
On the 4-hour chart, Solana is consolidating within a symmetrical triangle, often a precursor to sharp price movements. A decisive breakout above $153 could push SOL toward the $164 mark, reflecting a 7% upside.
Momentum indicators paint a bullish picture:
- MACD: The MACD line crossed above the signal line, indicating growing buyer interest.
- RSI: Sitting in neutral territory, leaving room for more upside without entering overbought conditions.
Analyst SDX highlights a long-standing descending trendline dating back to early 2023. Breaking above this trendline—and sustaining it—could confirm the bullish reversal. Traders should also monitor volume surges, as they validate genuine market interest and strengthen breakout confirmation.
Regulatory and ETF News Add Fundamental Tailwinds
Solana’s bullish technical setup is further supported by promising fundamental developments. Notably, SOL has been included in the Trump Media and Technology Group’s proposed cryptocurrency ETF, currently under SEC review.
The SEC recently requested refinements to Solana’s ETF applications, suggesting an ongoing dialogue that could lead to eventual approval—an event likely to attract fresh institutional capital.
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Solana’s Ecosystem Growth: Tokenization and User Adoption Soar
Beyond the charts, Solana’s network is experiencing rapid adoption:
- Tokenized Real-World Assets (RWAs): Surged to $418 million, according to Dune Analytics.
- User Activity: Active addresses spiked 345% in a single day, from 3.46 million to over 15 million.
- Stablecoin Supply: Continues to rise, underscoring growing use cases in DeFi and payments.
These metrics reflect Solana’s growing role in real-world asset tokenization and decentralized finance, helping it compete against other leading blockchains.
Solana Set for Potential Upside if Key Resistance Breaks
With technical patterns, momentum indicators, and bullish fundamentals aligning, Solana appears poised for a breakout. A confirmed push above $153 could see SOL quickly target $164, supported by ETF inclusion, regulatory engagement, and a booming ecosystem.
Investors should watch for rising trading volume and sustained price action above the breakout zone while maintaining prudent risk management.
