Solana (SOL) is showing signs of strength near $145 as market watchers anticipate a major move. Despite recent volatility, analysts believe the token remains in a long-term uptrend—if it can crack key resistance levels.
At the time of writing, SOL trades at $145 with a market cap of $76.5 billion.
Trading volume has declined by over 33% in the past 24 hours, suggesting a cooling-off period. Yet, some traders believe this calm may precede a storm.
Crypto analyst Altcoin Gordon highlights an ascending channel on the weekly chart. If SOL breaks above this range, he projects a rapid move to $500, followed potentially by a surge toward $1,000. His message was direct: “Only the patient will be rewarded. The market is designed to shake you out.”
The weekly chart from Gordon shows Solana respecting both the upper and lower trendlines, consolidating mid-range as of now. A successful breakout above the resistance zone would signal the resumption of bullish momentum.
Meanwhile, CoinMarketCap data reveals SOL’s circulating supply stands at roughly 528 million tokens, with a fully diluted valuation of $87.6 billion.
Despite the 1.88% dip in market cap over the past day, Solana has gained 1.17% on the year.
While short-term price movements remain uncertain, Solana’s long-term structure remains intact—at least until the channel breaks decisively. Traders will be watching closely to see if this breakout narrative holds true.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/solana-eyes-explosive-rally-if-key-channel-breaks/