#SOL Solana (SOL): The week's breakout star.
Solana's explosive 16.5% weekly gain to $158.12 positions it as the clear outperformer, driven by U.S. regulators moving forward in the regulatory process necessary to make spot SOL exchange-traded funds in the U.S. market a reality.
Looking at the weekly chart, Solana presents the most bullish technical picture of the three major cryptocurrencies, though not without its nuances. Currently trading at $158.12, Solana is heading to decisively reclaim position above both its 50-week EMA (approximately $150) and more importantly, the 200-week EMA is sitting at around $100. This configuration—with price above both weekly EMAs—represents a bullish market structure that typically attracts positional buyers.
However, the ADX reading of just 13 with no trend status reveals an important detail: Despite the impressive 16.5% weekly gain, Solana hasn't yet established a strong trending environment on the weekly timeframe. ADX below 20 indicates very weak trend strength, suggesting this move could be more of a sharp bounce within a range rather than the start of a sustained trend. This low reading might actually provide opportunity for traders: If SOL can maintain these levels and ADX begins rising above 20-25, it would confirm a new trend is forming.
The RSI at 59 shows moderate bullish momentum, having risen from earlier oversold conditions but not yet reaching overbought territory above 70. This healthy reading suggests there's room for further upside without immediate technical resistance from momentum indicators.
The volume profile shows significant accumulation in the $100-120 range, which should now act as strong support. The recent breakout above $140 on increased volume is encouraging for SOL bulls.
Key Levels
Immediate support: $140 (200-week EMA and psychological level)
Strong support: $100-120 (high volume accumulation zone)
Immediate resistance: $160-180 (a level that has been in play since 2024)
Strong resistance: $200-210 (measured move target from the base pattern)
