Solana Price Action Shows Ascending Triangle With $200 Resistance as the Key Level Before a Poten...

Solana forms an ascending triangle with $200 resistance as the key level for breakout potential.

Support at $176 and $162 remains critical, with buyers defending these zones during consolidation.

Fibonacci targets show upside zones at $220, $260, $277, $309, and $362 if breakout confirms.

Solana (SOL) continues to show strength after weeks of consolidation, with analysts pointing to an ascending triangle pattern on the chart. The structure has held firm since April, and with price trading near $184 at the time of writing, traders are watching closely. The broader angle suggests that this may not be a bad spot to start loading Solana before a potential breakout toward $360.

Ascending Triangle Holds with Key Resistance Near $200

According to analysis prepared by Ali Martinez, Solana’s 12-hour candlestick chart has formed an ascending triangle with resistance around $196.76. He stated that a confirmed breakout above $200 could push the token toward $360

Martinez explained that this level had been strong support in the past, and it now acts as a major barrier. The structure has been supported by repeated higher lows along the upward trendline

Price action has consistently respected the $176.43 support level, which aligns with the 0.786 Fibonacci retracement. Consolidation within this pattern, together with sustained demand, suggests buyers are maintaining control. Volume inflows during rallies have also confirmed steady accumulation.

Analysts Project Targets Beyond $200 if Breakout Holds

According to an observation by Jonathan Carter, Solana is retesting the upper boundary resistance after a previous fake breakout. He noted that a confirmed bounce from this level could validate the bullish setup and push price toward $205, $225, and $268.

Source: JonathanCarter(X)

Fibonacci extension levels also point to higher zones at $220, $260, $277, $309, and eventually $362 if momentum expands. The $162 area remains an important support, serving as a decisive pivot point for continuation. Even if Solana revisits this zone, the broader trend remains intact so long as it holds on a weekly basis.

At the time of writing, Solana was trading near $184, consolidating under resistance. Analysts maintain that a sustained move above $200 would accelerate momentum toward higher resistance levels.

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