{"id":5271,"date":"2025-06-10T18:13:53","date_gmt":"2025-06-10T18:13:53","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/solana-triangle-formation-breakout-targets-rally-to-164-is-a-recovery-around-the-corner\/"},"modified":"2025-06-10T18:13:53","modified_gmt":"2025-06-10T18:13:53","slug":"solana-triangle-formation-breakout-targets-rally-to-164-is-a-recovery-around-the-corner","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/solana-triangle-formation-breakout-targets-rally-to-164-is-a-recovery-around-the-corner\/","title":{"rendered":"Solana Triangle Formation Breakout Targets Rally To $164 \u2013 Is A Recovery Around The Corner?"},"content":{"rendered":"

Solana (SOL) has recovered from the recent market pullback after bouncing from its local bottom. Amid its recent breakout from a bullish formation, some market watchers suggest that the cryptocurrency could recover its start-of-year glory.<\/p>\n

Solana Breakout Eyes $164<\/h2>\n

Solana is recording a 2.45% surge in the weekly timeframe after recovering from its recent drop to the $140 area. The altcoin has seen a significant recovery from its multi-month downtrend, which led the token to hit a 14-month low of $95 during the early April retraces.<\/p>\n

However, SOL lost the $160 area amid the recent market corrections, dipping 11% in one week. Over the weekend, its price bounced nearly 10%, reclaiming the $150 level as support and forming an ascending triangle pattern.<\/p>\n

Crypto analyst Ali Martinez highlighted the 3-day formation in Solana\u2019s chart, suggesting a potential 6% jump to its recently lost support level. According to the post, the cryptocurrency broke out of the triangle formation on Monday after reclaiming the $155 area.<\/p>\n

\"Solana\"<\/p>\n

A retest and breakout confirmation could propel Solana to the $164 barrier, which has not been seen in two weeks.<\/p>\n

Analyst CW noted<\/a> that if SOL breaks through the selling barrier around the $160 level, \u201cthe previous price will recover quickly,\u201d as reclaiming this level could send the price straight to the $180 area.<\/p>\n

Notably, the altcoin\u2019s next significant selling wall is around the $180 resistance, which it has been unable to reclaim despite touching a $187 three-month high during the recent market rally.<\/p>\n

Recovering this key barrier could also push SOL\u2019s price toward the $200 mark, enabling a rally to new highs. However, failing to hold the current levels could send the cryptocurrency\u2019s price back toward the $142 buying wall, which served as support last week, or even the $135 level, where the next buy wall sits.<\/p>\n

SOL Preparing To Climb Higher?<\/h2>\n

Market watcher Jeremy pointed out<\/a>\u00a0that Solana is \u201cfinally breaking out from this downtrend consolidation.\u201d Per the post, the cryptocurrency has been consolidating in a descending channel since late May, hovering between the $140-$187 price range.<\/p>\n

Throughout this period, SOL\u2019s price moved from the $180 mark toward the $144 support. Nonetheless, it broke out of the two-week descending channel after reclaiming the $155 level.<\/p>\n

Jeremy suggested that Solana\u2019s price could \u201cactually climb higher\u201d if global conflicts and political disputes, like the Trump-Musk online feud, don\u2019t continue to affect the market, concluding that \u201c1 SOL = $300 is just a matter of time.\u201d<\/p>\n

Meanwhile, crypto trader Coinvo recently<\/a> affirmed that SOL\u2019s bottom \u201cis finally in,\u201d highlighting a potential bullish megaphone pattern in SOL\u2019s chart. The 18-month pattern shows that the fourth wave bounced from the formation\u2019s lower boundary during the April pullback.<\/p>\n

This could signal a potential surge to the upper boundary, around the all-time high (ATH) levels, during the fifth wave. A breakout above the pattern\u2019s resistance line could propel Solana to new highs<\/p>\n

As of this writing, Solana trades at $156, a 1.88% increase in the daily timeframe.<\/p>\n

\"Solana,<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) has recovered from the recent market pullback after bouncing from its local bottom. Amid its recent breakout from a bullish formation, some market watchers suggest that the cryptocurrency could recover its start-of-year glory. Solana Breakout Eyes $164 Solana is recording a 2.45% surge in the weekly timeframe after recovering from its recent drop…<\/p>\n","protected":false},"author":1,"featured_media":5272,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[42,725,468,281,33,200,2639,405,82,206,207,214],"class_list":["post-5271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-crypto-analyst","tag-crypto-market-correction","tag-crypto-market-recovery","tag-crypto-trader","tag-cryptocurrency-market-news","tag-sol","tag-sol-analysis","tag-sol-price","tag-solana","tag-solana-ath","tag-solana-breakout","tag-solusdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=5271"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/5272"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=5271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=5271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=5271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}