Solana Forms Massive Ascending Triangle as Analysts Watch $176 Breakout

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Solana forms a large ascending triangle, signaling a potential breakout above $176 soon.

Technical support at $165 and rising volume may drive SOL toward the $190–$200 range.

Solana’s stable fee model and network design boost investor confidence against Layer-2 rivals.

Solana (SOL) continues to attract attention from traders as its monthly chart structure indicates a large ascending triangle. A breakout from this technical pattern could lead to a strong move upward. The market is watching closely as SOL approaches key resistance zones, while maintaining important support levels.

Technical Indicators Signal a Build-Up Before Breakout

According to analysis prepared by GemXbt on X, Solana is showing signs of bearish pressure in the short term, as it trades below the 20-day moving average. The price touched $161.56 recently, near a strong support area, while the RSI approaches oversold territory

Source :GemXbt(X)

This setup may signal the potential for a bounce, though the MACD remains in bearish territory, suggesting momentum is still weak. On the broader time frame, however, the monthly chart structure points to a massive ascending triangle pattern, which is often associated with bullish continuation

Source :CW8900(X)

According to CW8900, a breakout above the sell walls at $173 and $178 could send SOL toward $190. Volume spikes during recent drops indicate active trading, which may support a decisive move when direction is confirmed.

Market Structure Builds Support as Fundamentals Strengthen

Solana is trading at $171.11 with a 24-hour volume of $2.32 billion, according to CoinMarketCap. While the asset faced a 1.06% decline over the past week, it remains up 27.3% over the last 30 days. Support from the 50-day and 100-day simple moving averages offers a constructive technical backdrop

According to Helius CEO Mert Mumtaz, Solana’s network design offers a more stable fee structure compared to Ethereum’s Layer-2s. In a post on X, Mert stated, “Anyone who thinks chain revenue is irrelevant is coping.”

Source :Mert Mumtaz(X)

He emphasized Solana’s unique parallel fee markets and low median fee volatility, arguing it provides better sustainability and scalability. If SOL maintains support at $165 and breaks $176, the ascending triangle breakout could initiate a move toward $200.

The post Solana Forms Massive Ascending Triangle as Analysts Watch $176 Breakout appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

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