- Solana confirms triangle breakout, targeting $164 as next major resistance level
- Trading volume surges past $5.6B, signaling strong bullish momentum in SOL
- MACD crossover and RSI at 58 indicate strengthening buyer pressure on Solana
Solana (SOL) is grabbing market attention after a notable technical breakout that hints at a strong bullish trajectory. On July 10, the price broke above a critical resistance zone between $150 and $153, confirming a symmetrical triangle breakout. The move pushed SOL to $158.29, up 3.48% in the last 24 hours and building momentum for what could be a sustained rally.
Besides the bullish pattern, Solana’s 24-hour trading volume of over $5.6 billion points to rising investor interest. With a market cap nearing $85 billion, Solana holds strong among top-tier cryptocurrencies.
Traders and analysts are closely watching the price action, with bullish signals aligning on several fronts. If the rally holds, Solana may soon challenge the next major resistance near $164 and potentially aim for higher targets in the short term.
Breakout Confirmed: Analysts See Upside Potential
Ali Martinez, a well-known market analyst, has spotlighted the recent breakout as a bullish continuation signal. His analysis highlights a clean break above the $150–$153 resistance area, which aligns with the upper trendline of the symmetrical triangle pattern.
Significantly, this move was supported by a rising volume profile, hinting at strong buying interest. The price currently sits just under the 0.786 Fibonacci level at $153.54, and a confirmed close above this could propel SOL toward $164.06 the 1.272 Fibonacci extension.
Resistance broke, and Solana $SOL could reach $164! pic.twitter.com/aNFqzOa6jb
— Ali (@ali_charts) July 10, 2025
Crypto Patel also echoed this bullish sentiment, calling the breakout a decisive moment for Solana. According to Patel, the breakout has shifted momentum clearly in favor of the bulls. Immediate resistance is now seen around $160, with an extended target ranging between $167 and $170.
These projections are based on the height of the triangle, which often helps estimate the strength of a breakout move. However, Patel warns that the setup becomes invalid if the price drops below $147, a key support zone.
$SOL is BREAKING OUT — Are You Ready?#Solana has officially broken out of a symmetrical triangle — a strong bullish pattern.
— Crypto Patel (@CryptoPatel) July 9, 2025
Setup gets invalid Below $147
Do you think this breakout sends #SOL to new highs? pic.twitter.com/4InR3vvMjB
Momentum Indicators Show Strength
Technical indicators also support the case for a continued upward move. The MACD has formed a slight bullish crossover, with the MACD line now positioned above the signal line. This reflects mild upward momentum.
Meanwhile, the RSI is currently at 58.11. While not in the overbought zone, it suggests increasing bullish pressure.
Disclaimer : The content shared by The Daily Crypto Post is intended for informational and educational purposes only and does not constitute financial or investment advice. Readers are encouraged to do their own research or consult with a licensed professional before making any financial decisions. The Daily Crypto Post will not be accountable for any financial losses.
