Solana Forms Bullish Flag on Daily Chart Indicating Potential Breakout

Solana is showing potential for a breakout as it maintains a key chart pattern. The price remains stable, forming lower highs and higher lows in a narrowing range, indicating possible upward movement.

Key Resistance Levels In Focus As Breakout Approaches

Solana has formed a bullish flag pattern on the daily chart, suggesting continuation of its uptrend.
The price is above the midline of the flag but testing the daily 100 moving average (MA100), which acts as resistance.
A reaction to the MA100 will influence whether the bullish flag leads to a breakout or consolidation.
Analyst Henry notes a Cup and Handle breakout on the 4-hour chart, signaling continuation and flipping $149 resistance to support.
If support holds, a rally towards $168 to $174 is expected, aligning with previous resistance levels.
Increasing volatility may pose risks for high-leverage positions.
Currently trading at $150, Solana is bouncing between support and resistance levels, potentially building pressure for sharp moves.
Analyst Top G suggests that achieving $300 could be realistic based on current structure.

Holding Above The Breakout Zone Could Accelerate The Move Upward

Solana has broken above the downtrend line on the 4-hour chart, indicating a potential shift in momentum.
If SOL stays above this trend line, further bullish continuation is likely, with next resistance at $165.
The asset shows strong momentum within a long-term bullish channel, characterized by higher highs and higher lows.
Analyst Persis10t projects a target of $700+ if the bullish structure holds and attracts volume.