SOL Price Primed for Explosive Breakout After 36-Day Consolidation Phase, Analysts Confirm
Solana's native token finally shows signs of shaking off its prolonged stagnation—traders are positioning for what could be the next major leg up.
The Setup: 36 Days of Compression
After more than a month of sideways action, SOL has been coiling like a spring. Analysts point to tightening Bollinger Bands and declining volume as classic indicators of an impending volatility expansion.
Technical catalysts align: a clean hold above the 50-day moving average, coupled with strengthening RSI divergence, suggests underlying momentum is building even as price action remains range-bound.
Market watchers are eyeing a decisive close above the $150 resistance level—a move that could trigger algorithmic buying and fuel a rapid run toward previous all-time highs.
Of course, in crypto, 'analyst predictions' are about as reliable as a meme coin's whitepaper—but this time, the charts might actually be saying something.
Technical Pattern Points to Imminent Move
Bluntz, a pseudonymous crypto trader with more than 327,000 followers on X, earlier today on the social platform shared a chart showing a distinct ascending triangle pattern for SOL that has been forming on the Coinbase exchange since about July 24.
Such formations are typically interpreted as bullish continuation signals, indicating that buying pressure is building and often concluding with a decisive break upward. The analyst’s assessment implies that the extended period of sideways trading is finishing, setting the stage for a significant price jump.
“This ascending triangle $sol breakout is going to be epic,” Bluntz announced. “36 days of ranging coming to an end soon.”
His outlook has come at a time when SOL is demonstrating renewed strength. It is currently trading at $202.34, up 11.9% over the past week and holding a monthly gain of 4.4%, according to CoinGecko.
The asset has also jumped 28% year-on-year, with its current consolidation phase reflecting growing pressure beneath resistance. Its 24-hour chart shows it bouncing between $187 and $205, while the broader seven-day range stretched from $179 to $212.
However, the comeback trail has not been without setbacks. SOL recently dipped below $190 following a rejection at $205, a pullback that had market watchers eyeing $176 as a key support zone.
Traders are now keeping an eye out for confirmation of a breakout above $207, a level that has repeatedly capped rallies since March. If breached with volume, targets could extend to $250, $277, and potentially $300, according to chart projections previously shared by analyst Ali Martinez.
Institutional Accumulation Builds a Strong Foundation
Despite the volatility, Solana’s fundamentals have remained strong. As reported earlier in the month, active wallets on the network are now almost at 3 million, with blockchain throughput tripling since July.
On top of that, Visa recently launched a pilot for USDC settlements on Solana, further showing its scope for real-world adoption. Pantera Capital is also raising $1.25 billion for a Solana-centered fund, with other major firms, including Galaxy Digital and Jump Crypto, planning a separate $1 billion reserve.
This growing belief in the network’s long-term value, combined with a favorable macroeconomic backdrop, could create the sort of powerful tailwind that may aid a potential technical breakout. If Bluntz’s forecast proves right, the 36-day coil could soon give way to one of Solana’s strongest pushes of the year, taking it closer to retesting its January high NEAR $293.
