Key Insights:
- Solana’s breakout above $240 confirms bullish momentum, with $280, $300, and $360 as next technical targets.
- Support now lies near $228–$232 and $220–$225, crucial zones for keeping Solana’s rally intact.
- Analysts note Solana’s ascending triangle breakout, signaling buyers have absorbed resistance and aim for higher levels.
Solana has crossed the $240 mark after several days of steady gains. At press time, the token traded near $238.89 with daily turnover above $12.7 billion. The move reflects a 5.53% increase over the past 24 hours and nearly 14% growth in the last week.
Analyst Lark Davis remarked,
“Holy shit!! $SOL just surpassed $240. Send it to all-time highs with haste.”
Charts show a series of higher lows since early September, with larger candles forming as buying pressure intensified. This climb pushed Solana through a key breakout zone, confirming stronger momentum.
Ascending Triangle Breakout Confirmed
Another analyst, Crypto King, pointed to a clear breakout from an ascending triangle pattern on the daily timeframe. He noted,
“Finally today Solana showed its strength and broke the ascending triangle pattern with great compulsion. It is clear that new highs will be made now.”
The setup shows price pressing against a flat ceiling while building higher lows. Breaking above the $230–$235 band confirmed that resistance was absorbed by buyers. Projected targets based on this breakout sit near $280, $300, and $360 if upward pressure continues.
Support Levels and Next Targets
Immediate support now lies between $228 and $232, the zone where Solana consolidated before the breakout. The $220–$225 area, once resistance, has also turned into support. Holding above these zones strengthens the case for continuation toward $250 and beyond.
Momentum remains firm, and as long as Solana defends the breakout, traders expect the token to build on current levels. A sustained push above $250 could open the door to the next technical targets.
Market Context and Price Outlook
The recent breakout adds to Solana’s strong performance through September. Price action has followed an upward channel with limited pullbacks, suggesting solid demand.
Attention now turns to whether Solana can maintain this trajectory toward $280 and beyond. While overbought conditions may bring brief pauses, the breakout structure keeps buyers in control for now.
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