Solana dropped 8.1% to $167.73, trading just above critical support at $167.13 amid rising volatility.
A potential breakout setup mirrors a past 600% rally, with entry at $154.74 and stop-loss at $144.67.
The price structure includes a double-bottom and trading channel, holding despite downward pressure and reduced momentum.
Solana’s price action continues to attract attention after a sharp 8.1% daily decline pushed its value to $167.73. The asset rests slightly above its support level of 167.13, leaving a so-called danger zone, which is closely monitored by traders.
It is worth noting that SOL is exchanged at 0.001458 BTC, indicating a decrease in relation to Bitcoin by 5.2%over the past 24 hours. Even though this, its shape fits inside a bigger structure that resembles that of an earlier breakout, which produced a flow of 600%. This current formation has developed around a double-bottom pattern and a defined trading channel, both of which remain intact despite recent volatility.
Solana Trading Setup Mirrors Past Breakout
The latest trading plan shows an entry at $154.74, with an additional buy level set near $149.73. A stop-loss at $144.67 defines clear downside protection, limiting risk if price fails to hold support. This organized move relates directly to the confluence section at the $167.13 area, which is still providing some support to short-term direction.
Moreover the resistance level of $182.39 remains the near-term upside range that traders watch to determine whether the strength of the situation is being witnessed.
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Historical price behavior also provides context for the current formation. The previous rally, which began from a comparable structure, advanced more than 600% once key levels broke. This ongoing setup shares technical similarities, reinforcing attention on price reaction around support and resistance. If the current range holds, the same triangle breakout level at $154.74 could remain an important pivot in the near term.
Volume and Structure Anchor SOL’s Short-Term Strategy
Despite the decline, volume behavior remains crucial. Any attempt to break through resistance would likely require strong participation to sustain movement. In the meantime, SOL is still trading in its established range, and the double-bottom pattern ensures its structural support.
These technical indicators emphasise why short-term trading plans are set with entry level at $154.74 and the stop-risk position at $144.67 to protect against extra downside risk. Solana holds above key support as its double-bottom structure persists. Volume confirmation remains essential, with $154.74 entry and $144.67 stop-loss anchoring short-term trading strategies amid ongoing volatility.
