Solana’s price action forms a breakout-retest structure supported by a trendline active since late June.
Key Fibonacci levels at $166.77, $171.69, and $185.28 outline the next potential targets for bullish continuation.
MACD crossover and support above short-term EMAs reinforce SOL’s current trend strength and continuation potential.
Solana (SOL) is retesting its breakout zone after a strong move above key resistance, signaling readiness for a continuation toward $185.
Breakout-Retest Structure Suggests Bullish Continuation
As shared by Ali (@ali_charts), Solana is showcasing a textbook breakout-retest formation on the daily chart. After breaching the $160 resistance, SOL climbed to $166.77—an important Fibonacci extension level—before pulling back to retest the breakout area near $159. This retest is occurring at a strategic support confluence, increasing the likelihood of another upward leg.
The retest zone is within a rising trendline for price action that began in late June. The Fibonacci golden pocket was even holding during consolidation (0.786 level at $150.97), and this overlapping support adds further weight to my bullish outlook which suggests that the pullback is simply a retest and not a reversal of the trend.
Assuming SOL holds above the rising trendline and reclaims $160 with volume, targets will be at $166.77, then $171.69 (1.414 Fib), $179.01 (1.618 Fib), and the full move to $185.28 (1.786 Fib). I like to see price action hold the trendline as a point of reference but if we experience a break below, there is the potential for the asset to retrace further down to $150.
Short-Term Indicators Remain Constructive
Despite a -1.99% pullback, Solana is maintaining short-term strength. The price is still trading above both the 9-day and 21-day EMAs, with trend support forming near $154. These moving averages continue to support a bullish structure, indicating that the trend remains intact.
MACD has shown a bullish crossover suggesting early strength in the upside. While volume is low now, the price structure favors the buyers. If SOL can hold the $154–$159 zone and break back above $160 decisively, we could see the next leg up happen fast.
Solana is currently around $160.28, up 9.08% over the past 7 days. Traders are looking for a strong bounce above $160 to confirm bullish continuation to the $185 target.
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