Solana’s price action is displaying bullish technical signals with a potential breakout above $153 resistance, signaling upward momentum toward the $164 price target. A symmetrical triangle pattern observed on the 4-hour chart suggests consolidation may soon yield to decisive upward movement.
Technical indicators reinforce optimistic projections, with the Moving Average Convergence Divergence (MACD) demonstrating a bullish crossover while the Relative Strength Index (RSI) avoids overbought territory. This confluence of signals points to sustained buying pressure without immediate exhaustion risks.
Fundamental developments strengthen Solana’s market position, including its inclusion in a proposed ‘blue-chip’ cryptocurrency ETF by Trump Media and Technology Group. This institutional endorsement potentially boosts prospects for spot Solana ETF applications. Simultaneously, ecosystem growth accelerates with tokenized real-world assets surging to $418 million in value and active users increasing by 631% over the past month.