Solana’s (SOL) price is showing bullish technical signals this week. The cryptocurrency has bounced from a key support level, capturing the market’s attention. Technical analysts, like independent expert Rekt Capital, identified a Solana double bottom pattern that could drive the price upward. This formation suggests the asset is gathering strength for an upward move.
The SOL chart analysis reveals the formation of this classic bullish pattern. It is characterized by two consecutive lows at a similar level, testing the $178-$180 support zone twice without breaking it. After the second bounce, the price has risen towards key resistance. Currently, the SOL price faces a crucial resistance, or “neckline,” located at $207. The pattern’s confirmation and the start of the rally depend on a decisive break above this $207 level.
The double bottom is a closely watched technical indicator in financial market analysis. It generally appears after a downtrend or a significant correction. It suggests that selling pressure is becoming exhausted at a specific support level. Buyers are stepping in at that level, preventing further declines. If the price manages to break above the neckline resistance, it usually signals a shift in momentum. This shift could attract new buyers, validating renewed interest in the asset. The Solana blockchain has maintained high network activity, which adds fundamental support to the technical movements observed in the price.
Are We Witnessing Confirmation of a Rally Toward $260?
If Solana consolida a ruptura por encima de los $207, el objetivo técnico es claro. Los analistas calculan el objetivo midiendo la distancia desde los mínimos ($180) hasta la línea de cuello ($207). Proyectando esta distancia de aproximadamente $27 hacia arriba desde la ruptura, el precio objetivo se sitúa cerca de $260. Esto representaría una subida significativa, aproximadamente del 40% desde el punto de ruptura. Este escenario alcista se considera el más probable si se confirma el patrón. Sin embargo, los operadores también vigilan de cerca el riesgo a la baja.
Solana’s current situation is one of pure technical definition. The Solana double bottom pattern offers a clear bullish roadmap, but it still depends on confirmation. If the asset fails to break $207, it could enter a period of lateral consolidation. Worse, a drop below the $178-$180 support zone would invalidate the bullish structure. This could open the door to deeper corrections. The market’s next moves will be crucial in determining the short-term direction.
