{"id":43052,"date":"2026-05-07T07:00:06","date_gmt":"2026-05-07T07:00:06","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=43052"},"modified":"2026-05-07T07:00:06","modified_gmt":"2026-05-07T07:00:06","slug":"solana-eyes-new-leg-up-after-triangle-breakout-is-96-the-next-stop","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=43052","title":{"rendered":"Solana Eyes New Leg Up After Triangle Breakout \u2013 Is $96 The Next Stop?"},"content":{"rendered":"

As Solana (SOL) breaks out of a multi\u2011week pattern, some market observers suggest a retest of a key resistance level could be on the horizon. Nonetheless, they also warned that the next leg up could be short\u2011lived if momentum fails to hold.<\/p>\n

Solana Breakout Targets Key Resistance<\/h2>\n

On Wednesday, Solana jumped 4.2% on the daily timeframe, retesting the $90 area for the first time in nearly a month before retracing. The cryptocurrency has been in the $75 to $96 price range since the early February market crash, failing to reclaim<\/a> the upper zone of this range during this period.<\/p>\n

Amid today\u2019s surge, analyst Ali Martinez highlighted that Solana was breaking out of an eight-week symmetrical triangle formation, which could lead to a rally toward the local range\u2019s upper boundary.<\/p>\n

\"Solana\"<\/p>\n

As he explained, a spike in buying pressure could push SOL\u2019s price to $92, a key horizontal resistance<\/a> over the past three months in the daily and weekly timeframes. If this level is reclaimed, the cryptocurrency\u2019s breakout could extend toward $96, a level not retested since the mid-March market rally.<\/p>\n

In addition, CryptoRand noted<\/a> that after its recent price jump, Solana has also broken out of its eight-month downtrend, suggesting that a bullish reversal could be on the horizon if this level holds.<\/p>\n

However, market observer Daan Crypto Trades pointed<\/a> out that the altcoin has been consolidating within a 10% range for three months, recording its lowest volatility in years.<\/p>\n

As a result, the analyst affirmed that a big move would happen sooner than later, but the direction \u201cwill entirely depend on which side breaks first. It won\u2019t be a move to fade (\u2026). Likely to see at least a 20-30% leg following the break of this compression.\u201d<\/p>\n

SOL To Rally Before Next Dump?<\/h2>\n

In an X post, Altcoin Sherpa noted<\/a> that Solana has underperformed all other majors over the past few months. Unlike Bitcoin (BTC) and Ethereum (ETH), SOL has not been able to retest or break out of its three-month range despite the recent market recovery.<\/p>\n

The analyst affirmed that the altcoin needs bullish conditions and BTC\u2019s price to stabilize to continue climbing higher. Meanwhile, More Crypto Online underscored<\/a> the importance of SOL\u2019s overall context in a video analysis.<\/p>\n

He explained that \u201con the higher timeframe, there is no sign whatsoever that we have a meaningful low in place,\u201d and that \u201cthe upside reaction from the February low was just too weak. And the structure that\u2019s even more important does not currently support a long-term rally.\u201d<\/p>\n

The analyst pointed out that there is \u201ca lot of resistance along the way,\u201d but noted that a counter-trend rally to the $110-$140 area is \u201ca very reasonable expectation\u201d to form a top as long as the February lows<\/a> hold.<\/p>\n

Nonetheless, he considers that \u201cfrom there, there\u2019s a good chance of going lower, possibly either in a fifth wave down to complete a larger correction in a so-called wave four, or like Bitcoin, the expectation is a more meaningful correction into the mid $30 region.\u201d<\/p>\n

\u201cSo, the market might just need to move up a little bit to complete this correction. Make the crowd bullish again so that the new sellers can come in,\u201d he concluded.<\/p>\n

\"solana,<\/p>","protected":false},"excerpt":{"rendered":"

As Solana (SOL) breaks out of a multi\u2011week pattern, some market observers suggest a retest of a key resistance level could be on the horizon. Nonetheless, they also warned that the next leg up could be short\u2011lived if momentum fails to hold. Solana Breakout Targets Key Resistance On Wednesday, Solana jumped 4.2% on the daily […]<\/p>\n","protected":false},"author":1,"featured_media":43053,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[46],"tags":[],"class_list":{"0":"post-43052","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-altcoin"},"yoast_head":"\nSolana Eyes New Leg Up After Triangle Breakout \u2013 Is $96 The Next Stop? - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=43052\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Eyes New Leg Up After Triangle Breakout \u2013 Is $96 The Next Stop? - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"As Solana (SOL) breaks out of a multi\u2011week pattern, some market observers suggest a retest of a key resistance level could be on the horizon. 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