Solana ($SOL) Eyes Potential Move to $187 Amid Bullish Breakout and Rising Trading Volumes
Main Idea
Solana ($SOL) is experiencing a bullish breakout, currently trading at $181 with a target price of $187, supported by technical indicators and market momentum.
Key Points
1. Solana ($SOL) has broken out of a descending channel pattern, with a target price of $187, supported by strong volume and bullish structure.
2. Technical indicators such as RSI (60.61) and MACD suggest continued bullish momentum, with SOL holding above the $173 support level.
3. Open interest rose by 1.60% to $9.88 billion, indicating increased trader positioning for upward movement, with large bid walls near $174.
4. SOL has risen 15.77% from the $155–$160 demand zone, with potential for further gains if it maintains above $173, though a pullback to $170 or $165 is possible if resistance at $206 holds.
5. The 50-day and 200-day SMAs are trending upward, reinforcing the bullish market structure for Solana.
Description
Solana ($SOL) is currently trading at $181 after breaking out from a descending channel, with bullish indicators targeting a price of $187. SOL breaks out from the descending channel, eyeing
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