Solana Forms Ascending Triangle Near $184, $200 Breakout Could Propel SOL to $362
Solana (SOL) is forming a bullish ascending triangle pattern near $184, with horizontal resistance at $200 and rising support at $176 and $162. A confirmed daily close above $200 on increased volume would validate a breakout, targeting Fibonacci extension levels at $220, $260, $277, $309 and $362. Traders should watch volume surges and hold key support levels as risk benchmarks: $176 for short-term stops and $162 for swing positions. This technical analysis highlights the Fibonacci zones and breakout targets, offering clear entry and risk management guidelines for a potential SOL rally.
Bullish
The formation of an ascending triangle—a bullish continuation pattern—with SOL consolidating near $184 and holding key support levels suggests limited downside and strong upside potential. A confirmed daily close above $200 with rising volume would validate the breakout, likely triggering buy-side acceleration toward Fibonacci targets up to $362. Similar patterns in altcoins (e.g., Ethereum, BNB) have led to sizable rallies upon resistance breaks, indicating a likely bullish impact on both short-term momentum and long-term uptrend. Traders will watch volume and support at $176 and $162 to manage risk, but the overall technical setup favors a bullish market response.