$SOL
🚨 Solana Price Faces Rejection At Crucial Resistance 🚨
This daily chart of SOL/USD is screaming “bull run confirmed,” but only after a specific event happens. SOL is currently trading at $173.84, down a solid 4.7% on the day. The chart shows Solana attempted a breakout above a key resistance zone around $178-$180, which had been acting like a brick wall since late 2024. This level was a big deal—SOL had tested it multiple times in the past few months but kept getting rejected.
Now that SOL seems to have accepted the rejection following BTC price dropping to $102,400, the bears want to take control, and the next stop looks like $160, which aligns with the bottom of the rising channel pattern on the chart.
The rising channel is a bullish setup, with higher lows forming since early April. A breakout above this level, combined with a surge in volume, will propel Solana price to that $295 target, a 69% jump from here.
