Solana breaks a multi-week downtrend, forming a higher high near $162 and signaling the first real shift in trend structure.
Intraday surge backed by strong RSI and MACD momentum shows bulls regaining control with over $154M in volume.
ETF speculation fuels breakout talk as Solana reclaims structure—support above $150 could trigger a larger rally.
Solana has broken above a multi-week descending trendline, showing early signs of a potential bullish reversal. Analysts highlight structural and momentum-based shifts on both the daily and intraday charts that support a developing uptrend.
Breakout from Lower Highs Signals Structural Reversal
Solana’s price action shows a technical shift after weeks of lower highs and lower lows capped bullish attempts. This change in structure has placed the cryptocurrency back into focus, with traders tracking its ability to hold key support. Recent price action around the $142–$162 range has fueled optimism that a more sustainable trend could now be emerging.
One key shift can be seen on the daily chart, where Solana has printed a new higher high. This development comes after a long stretch of lower peaks, marking a potential reversal. According to Trader Tardigrade, Solana had formed clear lower highs at $184, $170, and $160 between mid-May and early June. During the same period, lower lows near $153 and $142 confirmed a short-term bearish grip.
Source: (X)
However, this structure broke down in the second week of June. The price rebounded sharply from $142, creating a new high around $162. The analyst also pointed out that a diagonal trendline, which had capped prior rallies, was decisively breached during this move. This technical breakout has shifted the market structure, replacing a bearish sequence with a higher high, often the first step in trend reversals.
Intraday Surge Highlights Momentum and Volume Strength
Solana’s price moved sharply higher on the hourly chart, adding more weight to the bullish case already forming on higher time frames. The cryptocurrency surged over 5% in just a few hours, reclaiming near-term resistance and triggering positive momentum indicators.
CryptoAtomz has provided additional insights on this intraday shift. He highlighted the breakout above $161.12, where Solana previously faced rejection. The analyst noted how consolidation around $157.27 allowed buyers to regain control before the breakout occurred. Intraday ranges also widened, with lows at $155.03 and highs nearing $165.
https://twitter.com/CryptoAtomz/status/1932511611195175186
Moreover, momentum indicators turned increasingly positive. The MACD line showed a bullish crossover, while RSI values for 6, 12, and 24 periods all trended upward. RSI6 entered overbought territory at 74.34, reinforcing immediate upside pressure. Volume backed the move, with 24-hour trading turnover rising to $154.89 million.
X Analysts Signal Breakout Potential as ETF Buzz Grows
Crypto traders on X are increasingly bullish on Solana’s short-term outlook, with breakout talk tied to ETF speculation. Analyst commentary reflects growing anticipation that Solana’s bullish momentum could accelerate if broader market catalysts align. However, caution still lingers around key support levels near $150.
Notably, market watchers now highlight that a Solana ETF decision could arrive within 3–5 weeks. This speculation adds to bullish expectations, particularly if approval coincides with Solana maintaining strength above the current trendline. One popular analyst warned that a drop below $150.75 may invalidate this setup, suggesting another leg down remains possible. But if support holds, “fireworks” could follow.
Overall, Solana is gaining traction with bullish analysts across timeframes. The cryptocurrency has reclaimed structure, gained momentum, and drawn attention from ETF-related speculation—all key signals for a market in transition.
