Solana (SOL) Eyes Breakout as Ascending Triangle Nears Resolution

Solana (SOL) is showing strong bullish signals as it trades within an ascending triangle formation, a classic technical pattern often preceding a breakout. Currently hovering around $116, up over 3% in the last 24 hours, SOL is approaching the key resistance level at $120—a critical technical and psychological threshold.

The ascending triangle pattern reflects consistent higher lows, indicating growing buying pressure, while resistance near $120 has remained relatively flat. This structure suggests that bulls are gradually overwhelming sellers, setting the stage for a potential breakout.

A decisive move above $120, especially accompanied by rising volume, could trigger a rally toward the next resistance levels at $132 and $140. Trading activity has already started to pick up, reinforcing optimism among traders. Meanwhile, the Relative Strength Index (RSI) remains below overbought territory, allowing room for further upward momentum without immediate risk of correction.

However, if SOL fails to breach the $120 resistance, a pullback to the $110 support level—aligned with the triangle’s rising trendline—is possible. Still, this level may act as a solid springboard for another upward attempt.

With overall market sentiment leaning bullish, Solana's current chart structure is attracting close attention from technical analysts and crypto investors. The next few sessions will be critical in determining whether SOL can break through its resistance and embark on a sustained upward trend.

As Solana nears a turning point, all eyes remain on the $120 level. A successful breakout could reestablish bullish momentum and position SOL for a climb toward $140 and beyond.