Solana's Resurgent Price Outlook: Eyeing a Potential $268 Surge
Despite months of sideways trading and recent volatility, Solana (SOL) is once again capturing analysts' attention as new technical analyses suggest the altcoin could be on the brink of a significant rally, potentially skyrocketing to $268. This comes despite its price fluctuations since hitting an all-time high of $293 in January 2025, leading many to prematurely dismiss its growth potential.
Technical Signals Point to Major Upside
Crypto market technician Jonathan Carter highlights a compelling Ascending Triangle structure on Solana's daily chart. According to Carter, SOL is currently retesting the upper boundary of this long-formed pattern. Unlike a previous false breakout that briefly trapped bulls, the current setup appears more promising, showing consistent support along its ascending trendline. Key resistance levels are identified between $180 and $185. A confirmed bounce from this region could pave the way for SOL to reclaim higher targets at $205 and $225, ultimately setting the stage for an impressive run towards $268. With Solana currently trading around $181, these targets represent potential increases of 13.26%, 24.31%, and 48.07%, respectively. Further supporting this bullish thesis is the 100-day Moving Average positioned below current levels, alongside increasing volume patterns indicative of growing accumulation interest.
A Brief Pullback on the Horizon?
Echoing a nuanced perspective, crypto analyst Ali Martinez forecasts a temporary pullback for Solana before its anticipated rally. Martinez's 8-hour chart analysis suggests that SOL, currently trading above $181, might experience a downside correction towards the $160 mark. However, this projected dip is not seen as an invalidation of the overarching bullish sentiment. Instead, Martinez frames it as a strategic opportunity for buyers to accumulate assets at a more favorable price before the next upward leg. The $160 region is identified as a critical support area, where strong buying interest is expected to prevent further price declines and act as a springboard for a robust rebound. Historically, Solana has demonstrated a tendency for sharp rallies following periods of consolidation and market improvement.
