Solana breaks out of the descending channel, with Fibonacci targets set at $206.58, $234.12, and $265.25.
Upexi plans to acquire 1.6M SOL worth $273M, signaling growing institutional confidence in Solana.
$23M in shorts liquidated as daily volume tops $8B, confirming strong market momentum and interest.
Solana has bounced cleanly from the Fibonacci demand zone between 0.618–0.786, confirming strong buyer interest. With the structure breaking out from the downward channel, momentum is clearly shifting upward. Three clear targets have been identified: $206.58, $234.12, and $265.25. Market participants are now watching key resistance levels and increased institutional activity.
Breakout Confirms Uptrend and Target Levels
TheMoonHailey, a crypto analyst, noted that Solana rebounded from the Fibonacci demand zone between 0.618 and 0.786 levels. This level acted as a base, where strong buying interest halted further decline and changed price direction.
https://twitter.com/TheMoonHailey/status/1943924252408676546
The asset has since broken out of a descending channel, confirming a bullish reversal. The structure also shows clean support levels and rising momentum. The breakout aligns with higher trading volume, reinforcing the strength of the movement.
Based on Fibonacci extensions and earlier resistance zones, analysts now define three targets for the next leg upward. The first is $206.58, followed by $234.12, and then $265.25. These levels remain valid as long as the price holds above the channel resistance.
Institutional Inflows and Trading Activity Grow
According to Crypto Virtuos, the market remains favorable for Solana, and a push above $170 is expected. Solana traded near $164, supported by rising volume and institutional interest. Analysts also monitor the next move toward the $180 resistance zone.
Upexi Inc. confirmed a plan to acquire 1.6 million SOL tokens worth $273 million by mid-July. CEO Allan Marshall stated the move reflects long-term support for the Solana ecosystem. This accumulation follows broader trends where firms view SOL as a strategic asset.
Daily trading volume recently exceeded $8 billion, and $23 million in short positions were liquidated. This activity shows strong buying momentum. According to CoinMarketCap, Solana’s performance continues to attract attention across both retail and institutional segments.
The post Solana Breaks Out From Descending Channel, Here Are the Next Three Fibonacci-Based Price Targets appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
