Solana in an Ascending Channel – Bulls Must Hold Above 215After the strong correction from 300 to below 100, Solana finally started to recover. Following an impressive 90% rebound, the price corrected again but managed to form a higher low just above the 120 support zone — a constructive signal for medium-term buyers.
Since then, Solana has been trading inside an ascending channel, showing consistent bullish control with well-defined higher highs and higher lows.
Recently, the market spiked slightly below 200, only to confirm the lower boundary of this channel before bouncing back.
In my previous SOLUSDT analysis, I mentioned that it was imperative for bulls to hold the 200 level to validate the ongoing reversal structure — and that’s exactly what happened. The market respected this support zone perfectly, leading to a 15% advance since then.
At the time of writing, Solana is consolidating near the midline of the ascending channel, suggesting a temporary pause before the next potential leg higher.
If this consolidation breaks to the upside, the next key target for bulls is 260, a confluence resistance formed by the upper boundary of the channel and the November 2024 swing high.
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🔹 Summary
• Strong support: 200 (confirmed)
• Ideal bullish threshold: Above 215
• Next resistance: 260 followed by 300
• Structure: Ascending channel – continuation pattern
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In conclusion, Solana remains bullish while holding above 200, but ideally, the price should stay above 215 to preserve upside momentum.
A breakout above 240 would likely trigger a test of 260 followed by 300, which becomes very probable— the next key resistance zone. 🚀
