- Solana (SOL) is trading in a strong uptrend within an ascending channel, with technical indicators pointing toward a breakout above $200.
- If momentum holds, SOL could rally to $218 or higher, though a dip below key support may lead to a retracement.
After months of consolidation and bullish build-up, Solana (SOL) appears poised to retest the elusive $200 level — a price point not seen since Valentine’s Day. The altcoin’s consistent upward trend has kept traders optimistic, and technical indicators now suggest that a breakout could be imminent.
Currently trading near $180, Solana has remained inside an ascending channel since April, showing strong resilience above its lower boundary. This price action signals bullish strength, with the Relative Strength Index (RSI) climbing to 65.23, indicating growing upward momentum without yet entering overbought territory.
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Supporting the bullish sentiment is the Chaikin Money Flow (CMF), which continues to trend above the zero line — a sign that capital inflow remains strong. As long as the CMF holds, the likelihood of further upside increases, possibly propelling SOL beyond the psychological resistance at $200.
Crypto analyst Rekt Capital reinforced this outlook, noting in a recent newsletter that Solana has re-entered its reaccumulation range on the monthly timeframe. According to him, the altcoin has successfully retested the range low as support, a pattern often preceding major breakouts. “Solana needs to break this range high resistance to confirm a breakout,” he added, hinting that a move above $200 could open the door to higher highs.
If SOL manages to breach $195.02 — the immediate overhead resistance — the next logical target could be the 0.382 Fibonacci level at $218.56. In a more aggressive bullish scenario, prices could even soar to $247.68. However, if the CMF dips below zero, indicating reduced buying pressure, a retracement toward $137.98 remains on the table.
In summary, Solana’s technical landscape is aligning for a significant move. While the climb to $200 has been long-awaited, the current indicators suggest that SOL might not just test it — it could shatter it.
