Solana (SOL) is back in the spotlight with analysts and traders closely watching a familiar pattern that could spark a significant rally. A bull flag formation on the charts has sparked buzz in the crypto community, with price projections soaring as high as $260. But despite the excitement, there’s a catch — Solana must first break convincingly above a stubborn resistance level at $180.
Over the past few weeks, SOL has been navigating a turbulent stretch. After briefly dipping to $160 following a rejection near $184, it’s now making another attempt to reclaim the critical $180 zone. This level has proven difficult to overcome, but many believe that breaking through it could be the catalyst for the next leg up.
From a technical perspective, things look promising. The daily chart shows a classic bull flag — a bullish continuation pattern that often precedes another strong upward move. The RSI (Relative Strength Index) currently sits at a healthy 64.30, suggesting that Solana still has room to climb before becoming overbought.
Analysts believe that a decisive push above $180 would first open the door to $200, with $220 not far behind if bullish momentum picks up. The ultimate target for this fractal pattern? A potential run toward $260, a level not seen since late 2021.
But it’s not all green lights.
Despite the optimism, one key concern remains — trading volume. As Solana consolidates beneath the $180 resistance, buying pressure has thinned out. A true breakout, analysts caution, needs to be backed by significant spot buying volume. Without that, the bull flag could fail, and a reversal could be on the cards.
If SOL doesn’t manage to clear the $180 hurdle soon, traders are eyeing a fallback support range between $140 and $150. This area, anchored by a daily order block, is expected to provide a high time frame safety net if prices retrace. A breakdown into this range wouldn’t spell disaster but would certainly delay any hopes of a near-term breakout to new highs.
Traders like Robert Mercer have drawn parallels between Solana’s current setup and its behavior in October 2024, when SOL broke above $180 after a prolonged consolidation — a move that culminated in a surge toward $260. Mercer believes we could be on the verge of a similar breakout if market dynamics align.
Adding more fuel to the bullish narrative, technical analyst Javon Marks recently pointed to a hidden bullish divergence on the 3-day chart — the same signal that preceded a massive 1,332% rally in 2024. If history rhymes, as it often does in crypto markets, Solana might not just be aiming for $260, but potentially even higher. Marks speculates a breakout of that magnitude could send SOL all the way to $450.
However, not everyone is jumping in just yet. Prominent trader XO emphasized the importance of patience. He’s watching closely to see if Solana can not only break $180 but hold it as new support before considering a long position.
In summary, Solana is at a pivotal crossroads. The technicals suggest something big could be brewing, but until SOL punches through that $180 ceiling with conviction and volume, the breakout remains a potential — not a guarantee. For now, the market waits.
