Solana in a Macro Accumulation Zone:  $300 Still Appears to be an Achievable Target for SOL Price

Key Points

1. Solana's price has broken above the $160 resistance level, indicating potential for further upside towards $200.

2. The $200 level is significant due to its technical confluence, including the 1.618 Fibonacci extension and previous support-turned-resistance.

3. A failure to hold above $160 could invalidate the breakout, potentially leading to a retest of the $135–$140 support zone.

4. The daily chart suggests a bullish outlook, with the price forming a cup & handle pattern and staying between the 50 & 200-day moving averages.

5. Key levels to watch include $160–$165 (breakout zone), $200 (target resistance), and $145 (breakout invalidation level).