Solana is exhibiting signs of structural stabilization after forming a double-bottom pattern, a widely recognized bullish reversal signal in the market. The pattern has been confirmed at the $130 support zone, and the price is currently pressing against the $148–$150 neckline. Traders are closely observing whether SOL possesses sufficient momentum to break higher or if resistance will impede its advance.
Double Bottom Structure Strengthens Bullish Case
SOL has established two distinct lows near the $130 mark, creating a classic double-bottom reversal structure. The crucial breakout region is now situated between $148 and $150, acting as the neckline that must be breached for the pattern to be fully confirmed.
Short-term momentum indicators are leaning bullish:
- •The MACD histogram, currently at +2.43, indicates accelerating positive momentum.
- •The RSI, at 49.87, remains in neutral territory, allowing for further upward movement before reaching overbought conditions.
These indicators collectively suggest that SOL may be poised for a stronger upward move, provided that resistance does not cap the potential breakout.
Upside Scenario: A Move Toward $165
A decisive daily close above $150 would validate the breakout and likely trigger momentum-driven trading flows. Such a move could propel Solana towards a target of $165, representing an estimated 21% upside from the current neckline resistance.
Analysts point out that recent improvements in network activity and liquidity depth could amplify any bullish follow-through. This is particularly relevant as traders appear increasingly willing to reallocate capital into high-beta altcoins during market recovery phases.
Downside Risk: Failure to Break Could Send SOL Lower
Should SOL fail to reclaim the neckline resistance, a pullback to the $132–$137 zone is anticipated. Traders have identified this region as a significant bullish buffer, with consistent accumulation signals observed in order books and volume profiles.
A decline below $132 would invalidate the double-bottom setup and signal a return to corrective mode for Solana. However, current market conditions suggest that buyers remain sufficiently active to defend this price range for the time being.
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Solana Price Outlook
Solana's price action is currently at a critical inflection point:
- •A sustained move above $150 would confirm the double-bottom breakout, with $165 emerging as the next significant target.
- •A failure to break and a subsequent move below $137 would indicate a resumption of consolidation, with final support located at $132.
Momentum appears to favor the bulls, but confirmation hinges on SOL's ability to decisively break the neckline resistance. With steady accumulation and improving technical signals, traders generally agree that this week could be pivotal in determining whether Solana's next major trajectory is upward or back into consolidation.