Thomas Daniels
Solana (SOL) is showing one of the strongest technical formations in the cryptocurrency market, with multiple indicators converging on a price target of $260. After reaching a six-month high of $209 last week, SOL corrected by 16%, briefly dipping to $175. However, the asset has since rebounded to $180, reinforcing bullish momentum.
According to data from TradingView and Cointelegraph Markets Pro, SOL is currently consolidating within a classic bull flag formation on the daily chart—a continuation pattern that typically resolves with an upward breakout. The flag’s upper boundary at $190 serves as immediate resistance; a daily close above this level would pave the way for a potential 41% rally toward the $258–$260 range.
Broader technical analysis supports this outlook. SOL is in the midst of a V-shaped recovery on the weekly chart, having rebounded sharply from its June 22 low of $124. The neckline of this V-formation lies near $260, representing a full technical recovery and a 43% gain from current levels.
The relative strength index (RSI) has risen to 54 from a recent low of 34, indicating a steady pickup in bullish momentum. Moreover, SOL remains above all major moving averages across daily and weekly time frames, including the 100-day and 200-day simple moving averages (SMAs), reinforcing structural support.
Technical analysts are also aligning on this bullish thesis. Jonathan Carter, a noted market technician, highlighted an ascending triangle pattern, which further supports the $205, $225, and $268 targets. “Solana is retesting upper boundary resistance again after a previous fake-out. A confirmed bounce from this zone could validate the bullish structure,” Carter noted on X.
Crypto analyst Crypto King echoed this sentiment, emphasizing that the recent rebound from an uptrend line connecting higher lows since June positions SOL for a move toward its all-time high of $295.
In addition to technical setups, Solana’s on-chain fundamentals remain robust. Growing dominance in decentralized finance (DeFi), rising transaction fees, and consistently high throughput continue to support network demand and investor confidence.
