Solana price fractal targets rally to $260, but one thing must happen first — Analysts
*Key takeaways:*
· Solana’s bull flag pattern projects a rally to $260, but low spot buy volumes have analysts advising caution.
After briefly dropping to $160 from $184, Solana (SOL) is attempting to reclaim a position above its key resistance at $180 for a second consecutive week. With Bitcoin (BTC) hitting an all-time high, market speculators are banking on eventual capital rotation, which could pump major altcoins like SOL toward new highs.
Solana shows promising signs on the daily chart, forming a textbook bull flag pattern after a strong uptrend. While SOL prices currently trade under $180, a breakout above this level could propel SOL toward its first target at $200, with further upside potential to $220 if momentum sustains.
Solana 1-day chart. Source: Cointelegraph/TradingView
The trend remains bullish, supported by the relative strength index (RSI) at 64.30, indicating healthy momentum without overbought conditions. However, SOL needs a clear market structure break (MSB) or a decisive bullish breakout above $180 to trigger the next leg of the rally.
Declining volumes during the consolidation phase suggest caution, as a lack of buying pressure could stall the breakout.
If SOL fails to breach $180, the immediate key area of interest is between $140-150, and the bull flag pattern would be invalidated. The support range is a daily order block, which should provide higher time frame (HTF) support in case of a price correction.
*Related: Bitcoin could go much higher due to lack of FOMO and futures market euphoria — Analysts*
*Solana price fractal aims for $260*
Crypto trader Robert Mercer shared a chart identifying a price fractal pattern similar to October 2024. Mercer emphasized two critical zones: one around late 2024, where SOL broke past $180 after consolidation, and a current zone mirroring that setup. He predicts a breakout above $180 could trigger a sharp upward rally, mirroring the late 2024 rally that saw $SOL peak near $260.
Solana price fractal analysis. Source: X.com
Likewise, technical analyst Javon Marks identified a hidden bullish divergence on Solana's 3-day chart, a pattern that previously triggered a 1,332% surge in 2024. Marks suggested that if this pattern breaks out again in 2025, Solana could reach a price target of $450.
Popular crypto trader XO also remained on the lookout for a long opportunity, but suggested waiting to see if Solana could flip the $180 level into support.
Solana analysis by XO. Source: X.com
*Related: BTC price eyes $112K as risk assets 'ignore bad news' on unemployment*
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.