NewsletterSolana Price Forecast: Is a Breakout Above $200 Imminent?
Highlights
- A potential double-bottom reversal increased uptrend chances for Solana.
- A positive cycle in the triangle pattern will increase the chance of a trendline breakout.
- The 24-hour trading volume on the Solana coin is $2.206 Billion, indicating an 11.59% drop.
Solana Price Forecast: With an intraday jump of 5%, the SOL token price takes a bullish turnaround days after an intense correction phase. The turnaround marks a potential upcycle within a triangle pattern, holding the trend momentum trapped. As the market anticipates a broad recovery rally, a month after Bitcoin Halving, will Solana overcome the pullback phase for a breakout?
Also Read: Solana Co-Founder Gives Sarcastic Jib on Meme Coin Situation
Solana Price Teases Double Bottom Reversal
With the market-wide recovery taking baby steps, the Solana price showcases an underlying shift in sentiments, teasing a bullish reversal. The altcoin shows lower price rejection from a support trend line, which increases the possibility of a bull cycle.
With a symmetrical triangle visible in the daily chart, the pullback phase takes a lateral shift. However, the sideways shift between the 50D EMA and the 100D leads to a double-bottom formation. This projects a potential bullish turnaround in the SOL price.
Further, the recent gains offer a possibility of a morning star pattern, which is known for kickstarting a bullish reversal. Currently, the SOL price trades at $142.49 with a bullish intraday candle as it reverts from the bottom support trendline.
With the neckline of the double bottom pattern at $160, the ongoing recovery offers a strong possibility of a breakout rally, setting a bullish chain reaction. In such a case, the bull run could surpass the psychological mark of $200.
Will Solana Price Recovery Hit $250?
With multiple breakout events lining up for Solana, the underlying demand increases with the growing attention of sideline traders. Hence, the daily chart offers multiple entry spots and increases the bull run possibility to $250.
Conversely, if a bullish failure leads to a drop under $130, the SOL token could nosedive to $100.
Technical Indicator
- Exponential Moving Average: The bearish crossover of the 20 and 50D EMA warns of a minor increase in supply.
- Relative Strength Indicator: The negative trend in the daily RSI takes a reversal from the oversold zone and bolsters the bullish reversal chances.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Related Articles
- BOJ Hikes Interest Rates to 30-Year High, Will Bitcoin Repeat 20-30% Post-Hike Crashes?
- Breaking: U.S. Senate Delays CLARITY Act again, Crypto Market Structure Vote Slips to Early 2026
- Breaking: Bitwise Files S-1 For SUI ETF With U.S. SEC
- Crypto Hacks 2025: North Korean Hackers Steal over $2B in ETH and SOL This Year
- Universal Exchange Bitget Removes Barriers to Traditional Markets, Offers Forex and Gold Trading to Crypto Users
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
- Will Bitcoin Price Crash to $74K as Japan Eyes Rate Hike on December 19?
- Bitwise Predicts Solana Price Will Hit New All-Time Highs in 2026
- Bitcoin Price Outlook: Capriole Founder Warns of a Drop Below $50K by 2028
- XRP Price Rare Pattern Points to a Surge to $3 as ETFs Cross $1B Milestone
