Skip to content
- Solana holds strong above $120, signaling sustained bullish momentum and investor confidence.
- The technical structure shows an ascending triangle, hinting at a possible breakout toward $222.90 and $316.00.
- Accumulation under $140 is seen as ideal entry, with rising volume supporting continued upward movement.
Solana (SOL) is continuing to show impressive and sustainable upward performance, which has recovered from the $120 support level. Analyst Rose Premium commented on X, stating that Solana is now set to go up further based on technical factors. The weekly chart shows a sound structure, as Solana holds well above a key demand area and sustains an uptrend.
This level has provided support for the bull run continuation, and the price has shown appreciable strength. Climbing rockets and bullish engulfing candles are fully developed and considered to be pioneer indications of buying sentiments.
Solana is in the process of developing a quintessential pattern of an ascending triangular continuation. The overall structure of the market has not changed, and the current move looks similar to previous breakout phases. This formation is pointing traders to a potentially new, higher ground that could be the beginning of a significant movement higher.
Solana’s Rally Targets
Rose Premium has released an economic plan of goals for the next rally. The near-term resistance level has been established at $222.90, while the long-term one is at $316.00. SOL has been in an uptrend, and it has significant support and resistance levels, which put it in a very strong position among major altcoins.
Thus, it can be seen that the level below $140 has become a good buying entry point in this regard. The analyst called it a “gift” with the implication that those who invested early may be looking at high gains as the breakout continues. Perhaps the recent rally is just the tip of the iceberg.
Bullish Sentiment Builds
The market sentiment is therefore inclined to the bullish side due to the encouraging views of traders and investors. Volume is increasing, or the overall pattern of Solana does not show any signs of shifting on the higher timeframes. These factors are making it highly probable that SOL may be in the process of probing through the resistance levels and towards reaching its forecasted points.
The bounce from the $120 level has contributed a lot to affirming the bull’s existence. So as long as the price is above this level, it is likely to continue rising. Thus, buyer interference and the continued pressure suggest a consistent positive outlook for additional increases.
Similarly, Solana has also performed well this year. In a competitive market setting, this innovation causes it to gain power in developing this conspicuous bullish formation. Focus is now turning to whether SOL will be able to capitalize on this kind of performance and carry it up another notch to address its rising expectations.
