According to Odaily Planet Daily, Fairlead Strategies analysts believe that SOL may have a triangle breakthrough, which will drive its price up again. SOL almost doubled in the first quarter to more than $200. Since then, its upward trend has lost momentum, with the callback support at around $120, and the price recovery has gradually slowed down. This has led to a so-called descending triangle pattern, which indicates that sellers are dominant, so the breakthrough represents a new upward momentum.

“A breakout would signal a bullish continuation of SOL’s long-term uptrend with secondary resistance near $202. Triangle support is near $132. However, we maintain a neutral bias until a breakout occurs,” analysts at Fairlead Strategies said in a note to clients.