Solana Price Breaks Out With $164 Target: How Far Is $251?

Solana price broke out of a symmetrical triangle, triggering bullish continuation signals across multiple timeframes.

Analysts currently forecast technical levels of between $164 and $251 as technical patterns closely link with robust derivatives data and rising market volume.

In the meantime, Solana price is currently trading at $158, gaining over 1.75% in the past week.

Solana Price Broke Triangle Resistance and Targets $164

According to Ali Martinez, Solana price confirmed a breakout above triangle resistance near $152. His one-hour chart showed Solana price breaking a multi-day consolidation structure that formed between June 30 and July 8.

The symmetrical triangle indicated consistently higher lows and reduced volatility, which is usually a signal of imminent rapid action.

On the other hand, Ali applied Fibonacci extension tools projection that depicted SOL price breakout target of $164.05, which matches the 1.272 extension level. Volume increased during the breakout, supporting the move.

Solana price is currently trading comfortably above the 150 level as the $147 mark remains a critical invalidation zone. If SOL price continues to close above this level, traders may push toward the $160–$164 band.

Additionally, the symmetrical triangle, often regarded as a neutral continuation pattern, appears to have resolved in favor of bulls.

So long as SOL price is still above $150, the breakout will still be in effect, with $164 as the closest price objective.

SOL Harmonic Bat Pattern Targets $187 and $251

Another analyst, Batman, had a more comprehensive harmonic outlook. His daily chart outlined a Bat Pattern that could take Solana price to $187 initially and then up to $251.

This formation had a multi-week bullish wave prediction according to successful completion of major Fibonacci positions.

The Bat Pattern included five major points (X, A, B, C, D). Solana price completed its D point near $135.50 and has since bounced strongly.

The primary resistance is at $187 and as long as momentum is up, the entire harmonic movement top is at $251. It coincided with the XA and the CD legs, 0.886 and 1.618 Fibonacci extensions.

SOL Price Symmetrical Structure Confirmed on 4H

In addition, Crypto Patel also confirmed a bullish breakout, but on the four-hour chart this time. His analysis showed a declining resistance channel in an appropriate triangle with a rising support.

On July 9, Solana price rose above the $152 level, creating yet another bullish engulfing candle. This breakout rejects the bear predictions unless the top altcoin closes below $147.

Patel set $147 as the invalidation level. As long as SOL price holds above that, the pattern remains structurally intact. His chart showed a projection to $165-$167, in agreement with the $164 breakout target on Ali.

The apex break was achieved after a series of unsuccessful re-tests, which is a sign that bears are losing grip.

The 4-hour RSI is trending upward, and the MACD has formed bullish crossovers. These technical indicators support a bullish outlook.

If trading volume remains strong, Solana’s breakout could extend beyond $160 in the next move.

Derivatives and Market Data Reinforce Solana Price Strength

CoinGlass data from the derivatives market indicated strong backing for the bullish move. Solana’s futures trading volume increased by 28.37% in the last 24 hours, reaching $1.42 billion.

Open interest also rose 4.98%, now totaling $7.44 billion. The volume of options trading increased by 182.83% and open interest increased by 15.47%.

Additionally, in the past 24 hours, short positions saw liquidations totaling $12.25 million, while long liquidations were significantly lower at $1.65 million.

Binance’s long/short ratios showed further bullish trend. The ratio of top traders by accounts is 2.159 and by positions is 2.131. These metrics reflected growing trader confidence in Solana price upward continuation.

In the last 7 days, the top altcoin rallied from a low of around $143 to reach $163.83. This recovery reflected growing bullish sentiment, supported by rising trading volume and technical momentum.

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