Solana ($SOL ) is preparing to re-enter the crypto market’s radar with a quiet but striking technical setup in recent days. The cryptocurrency is trading within both Fibonacci retracement levels and a falling wedge formation, paving the way for a significant price jump. Technical indicators and formations point to a potential rally to $258 in the medium term.
📉 Selling Wave Slows Down, #solana Clinging to Support May Give Expectations
The correction movement seen throughout the market over the past week has also affected Solana. However, SOL is approaching the “golden Fibonacci” retracement zone in the $128–140 range, indicating that buyers may re-emerge at historically strong support points.
This region is located between the Fibonacci levels of 0.618 and 0.786 and is known as an area where trend reversals frequently occur. This retracement range, which is considered the "heart of the trend" in technical analysis, gives the first strong signals that a new upward wave may begin in Solana.
🔺 Falling Wedge Formation: The Messenger of the Hidden Rise
One of the most important elements that draws attention in the Solana chart is the falling wedge formation. This technical structure usually indicates that the selling pressure in a falling market has weakened and that a trend reversal is imminent. Currently, the Solana price is moving close to the lower band of this formation.
In case of an upward breakout from the formation, the technical targets are:
$204.31
$229.01
$258.45
These levels represent a potential increase of 60% to 100% compared to the current price of approximately $149. Therefore, a breakout of the formation could put Solana into a new bull run in a short time.
📊 What Do Technical Indicators Say?
Currently, the RSI (Relative Strength Index) is showing an upward recovery signal from the oversold zone. This supports the bullish signal, especially at the intersection of the lower limit of the wedge and the Fibonacci zone.
Although the MACD indicator has not yet presented a clear intersection, the contraction in the histogram shows that the momentum is preparing to change direction. The consolidation of the price by holding on to the support line may be preparing the ground for a breakout in the short term.
🌪️ High Volatility, But the Structure is Solid
The cryptocurrency market generally still has high volatility. However, Solana's price movements show that it has entered a consolidation process at strong support levels in technical terms. This situation offers a strong opportunity area, especially for medium and long-term investors.
Another important point to note for investors is not to increase positions before the confirmation of the breakout and to proceed with stop-loss strategies.
📌 Conclusion: Technical and Psychological Ground Strengthens in Solana
Solana has reached a very critical threshold both psychologically and technically. The fact that it is in the golden Fibonacci range and in the falling wedge formation increases the possibility of an upward bounce from this region.
If this formation breaks upwards, it will not be surprising for Solana to start a strong rise towards the $204-258 band. Therefore, it is of great importance for investors to pay attention to this technical structure and review their positions in volume-supported breaks.
