Solana Price Eyes Breakout as Bullish Wedge and Fib Confluence Signal Uptrend Brenda Mary | usagoldmines.com

TLDR:

• Solana forms a bullish wedge near $144 with support at 0.618 Fibonacci retracement.
• Rose Premium Signals sees upside targets at $204, $229, and $258 if the breakout confirms.
• Volume surge and wedge breakout could invalidate the current bearish structure.
• SOL trades near $145 with rising volume and strong interest at the major demand zone.

Solana’s recent chart action hints at a possible breakout after weeks of consolidation. Analysts are tracking a bullish wedge pattern forming near a major support level. 

With the price hovering near $145, technical indicators point toward a potential rally. 

Market participants are watching key levels for signs of confirmation. If the setup holds, Solana may head toward higher resistance zones in the short term.

Solana Support Forms at Key Fibonacci Level

Solana appears to be gaining traction after bouncing from a strong demand zone near $144. 

This area also lines up with the 0.618 Fibonacci retracement level, a popular zone for reversals. The confluence of these two technical signals is drawing attention from traders looking for long opportunities.

According to an analysis shared by Rose Premium Signals, this setup could serve as a foundation for a bullish move. The demand zone has held firmly through recent price declines, showing resilience at a critical point on the chart.

$SOL #SOL is preparing for a strong breakout
Solana is bouncing from a key demand zone + confluence with 0.618 Fib level — forming a bullish wedge pattern

Ideal LONG zone identified
A breakout from the descending wedge could trigger a sharp move upward toward the… pic.twitter.com/jcYCNZAsP4

— Rose Premium Signals (@VipRoseTr) June 24, 2025

The chart shows Solana forming a descending wedge, which often signals a trend reversal when it appears at the bottom of a price movement. This pattern reflects weakening downward momentum and tightening price action.

Traders interpret a breakout from the wedge’s upper boundary as a shift toward bullish strength. Rose Premium Signals pointed out that this technical formation increases the likelihood of a sharp upward push if buyers take control. 

A breakout would invalidate the recent bearish trend and open the way to new price targets.

Solana Price Targets Set at Strategic Levels

Should SOL break above the wedge, three upside targets have been identified. The first is around $204, which aligns with the next major resistance. 

Further gains could push the token toward $229 and eventually $258 if momentum continues.

These levels are based on historical resistance zones and Fibonacci projections. Analysts advise watching closely for volume spikes and confirmation of a breakout before entering new positions.

At the time of writing, SOL trades at $144.90, with a 24-hour price increase of 2.86%. The weekly chart, however, shows a 2.53% decline, indicating short-term volatility. Trading volume reached $5.39 billion in 24 hours, indicating a growing interest in the asset.

If current momentum holds and a breakout is confirmed, SOL could be setting the stage for a strong rally. Traders are advised to monitor price movement near resistance levels as the market reacts to this developing setup.

The post Solana Price Eyes Breakout as Bullish Wedge and Fib Confluence Signal Uptrend appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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