Solana ($SOL ) has reclaimed the spotlight this week with a technical setup that’s turning heads. After weeks of sideways consolidation, bullish indicators are now flashing green—and momentum is building toward a key resistance level: $165.

🔍 Technical Snapshot

On the 4H chart, SOL broke out of a descending channel, confirming a bullish reversal pattern. The price found strong support around $148–150, forming a double bottom and bouncing with increasing volume—often a prelude to an impulsive leg up.

📈 Key indicators:

RSI (Relative Strength Index): Broke above 60, showing renewed bullish strength without yet hitting overbought territory.

MACD: Bullish crossover occurred on June 6, with histogram bars expanding—indicating strengthening momentum.

Volume profile: Clear uptick during breakout from the $152 resistance zone.

🎯 Targeting $165 – Why It Matters

The $165 level served as both a support (April) and resistance (May) zone. A clean break and daily close above it could open the door to the $172–$178 range, where liquidity pools and prior rejection points sit.

🚀 Bulls are now testing this $165 level, which aligns with the 0.618 Fibonacci retracement from the April high. If flipped into support, this could become a launchpad for a larger leg upward.

🐂 Bull Case in Play – But Eyes on the Trapdoor

While indicators lean bullish, caution is still warranted. Failure to reclaim $165 or a rejection with weakening volume may signal a bull trap. Keep an eye on:

Support to hold: $150–$152

Breakdown invalidation level: Below $145 (would break bullish structure).

Solana is shaping up to be the altcoin to watch this week. With technical indicators turning positive and bulls pushing against a key resistance zone, all eyes are on $165. A decisive breakout here could flip market sentiment and spark renewed interest from both retail and institutional traders.

> 📅 This week’s chart belongs to SOL. Will it lead the next altcoin rally?

🔔 Follow for real-time chart breakdowns and short-term trading setups.


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