$SOL

Solana Breaks Above Key Resistance Trendline

Solana’s gains today are part of a recovery cycle that began on September 5 after the price reached its “accumulation area” between $113 and $125, where it found strong support during previous downward moves.

The zone represents a critical base where buyers stepped in to prevent further declines, leading to a consolidation phase that now serves as a strong support base. Solana’s rally from this accumulation area shows sustained buying interest and could provide a safety net for any price pullbacks.

The most notable feature is the black bearish trendline, which has acted as resistance since Solana’s peak near $205 in March. SOL broke above it on September 26 and is continuing its breakout trend.

The next potential resistance level to watch is around the 0.382 Fib level at $155.70, which SOL is attempting to hold above. A successful break above this level could target the 0.5 Fib retracement levels ($165.23) and 0.618 Fib retracement levels ($174.75).