Solana Price Targets $230: Can Bulls Overcome Key Resistance?
Solana (SOL) Price Surge: Analysts Predict Major Breakout Ahead
Solana’s Price Action Enters a Bullish Phase
Recent analysis indicates that Solana (SOL) is experiencing a pivotal moment, with several market experts identifying bullish trends in both weekly and intraday charts. The altcoin has stabilized above significant support levels after successfully retesting previous resistance zones, suggesting a potential upward momentum.
With the $185 resistance level now within reach, analysts are forecasting a possible rise to $230 in the coming weeks.
Key Levels Reclaimed After Testing $130 Support
An analyst has pointed out a weekly chart that illustrates how Solana’s price has adhered closely to earlier predictions. The rejection of the resistance zone has transformed the $130 level into a robust support area. Current trends show that Solana has regained ground above this critical zone and is now eyeing the $185 resistance.
According to market insights, the next major objective is to surpass the $185 mark, with expectations of reaching approximately $230. This target represents a region of weekly inefficiency, where past price movements left unfilled orders, potentially attracting buyers back to previous highs.
Bullish Patterns Indicate Continuation
On the 4-hour chart, analysts have noted that Solana is forming a classic higher-low pattern. Following a recent pullback from $159.99, the price is now maintaining support around $149, an area that has previously acted as resistance and is now seen as a bullish continuation point.
This structure is indicative of positive momentum in trending markets. The chart also reveals a notable double bottom and an inverted head and shoulders pattern, with the right shoulder currently in development. Confirmation of these formations often leads to breakouts to new highs, with the next resistance level identified at approximately $168.49. A successful move above this could pave the way for a challenge at $180.
Bounce from $140 Zone to Fuel Local High Retest
Additionally, another analyst has predicted that Solana’s price could rebound from the $140 area, setting the stage for another attempt to breach the $180 highs. This zone has consistently attracted buying interest since mid-June, demonstrating strong demand whenever the price approaches it.
The chart has shown a series of higher lows since June 25, even amidst broader market volatility, indicating Solana’s relative strength compared to other altcoins that remain in downtrends. A breakout above the $180 neckline, supported by strong trading volume, would confirm last week’s bullish continuation pattern, signaling that the overall uptrend is still intact. The critical level to watch is now $185; a breakthrough here could lead to a rally towards $230.
Falling Wedge Pattern Approaches Breakout
In another analysis, it has been noted that Solana is nearing the end of a falling wedge formation, with the price touching the lower boundary and attempting a bounce. Typically, a breakout beyond the wedge resistance can lead to rapid upward movement.
If the token successfully rebounds off the wedge support, there are plans to target a price of $162. This scenario aligns with previous analyses suggesting that short-term momentum is building beneath the resistance level.
Currently, Solana is trading at approximately $148.65, and the completion of the falling wedge could coincide with a broader rally in higher timeframes.
