Solana Targets $205 as Ascending Triangle Holds Firm Above $170 Support

News, Trending

  • SOL is consolidating in an ascending triangle, with $170 acting as a major liquidity support zone.
  • Near-term resistance marks breakout targets between $180.86 and 195.21, with $205.73 serving as an extended resistance target.
  • The volume of trading has been on the rise in the context of consolidation, meaning high market activity at the existing price points.

Solana (SOL) is moving in a clearly defined ascending triangle pattern on the 4-hour chart, suggesting a potential reversal of short-term market momentum. The price is now trading at $174.97, representing a 2.4% increase over the past seven days. 

In the last 24 hours, SOL has been traded between $173.92 and $180.86, and the previous low at $173.92 is a valid support. This level is also associated with a healthy liquidity zone at 170.05, the zone where buyers have stopped the selling profusely to ensure that bears do not drop to lower levels.

SOL Holds $170 Support as Triangle Nears Breakout

The liquidity zone near $170 remains a decisive area for market participants, providing a strong base for recent price activity. Each time the price approaches this zone, notable buying interest emerges, halting downward movement. This support has so far aligned with the lower boundary of the ascending triangle. As the pattern narrows, the significance of this support strengthens, creating a focused area for potential retests before further advances.

Source: (X)

Resistance has formed near $180.86, capping recent upside moves. The upper boundary of the ascending triangle slopes slightly downward, compressing price action between higher lows and static highs. This compression often precedes a decisive move. Notably, a short-term target around $195.21 has emerged from prior price action, with a broader extension level set near $205.73. These resistance points remain critical markers for traders watching the current consolidation phase.

SOL Tests Key Liquidity Zone as Ascending Triangle Signals Breakout Potential

If SOL revisits the $170 liquidity zone and holds, the ascending triangle’s structure suggests potential for upward continuation. Increased trading volume in recent sessions adds weight to this consolidation phase, indicating market participation is strengthening. 

The proximity of key resistance levels above $180.86 creates a defined roadmap for the next breakout attempt. Traders will be monitoring both the retest of $170 and the subsequent approach to the $195–$205 range. Price action in the coming days will likely determine whether the ascending triangle resolves in line with its historical tendencies.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply