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Solana Breaks Symmetrical Triangle Pattern, Price Surges 3%
Coin WorldFriday, Jul 11, 2025 2:08 am ET
1min readSolana has recently demonstrated a potential breakout from a Symmetrical Triangle, a significant pattern in technical analysis. This pattern is characterized by two converging trendlines, with the upper line acting as resistance and the lower line as support. A breakout above the upper trendline is typically seen as a bullish indicator, suggesting a continuation of the upward trend. Conversely, a drop below the lower trendline is considered bearish.
Analyst Ali Martinez highlighted this development in a recent post, noting that Solana's price had surged above the resistance line of the Symmetrical Triangle. This pattern is part of a broader class of triangles, which include Ascending, Descending, and Symmetrical Triangles. In an Ascending Triangle, the upper trendline is parallel to the time-axis, indicating a narrowing range with a potential upside. In a Descending Triangle, the support line is parallel to the time-axis, suggesting a narrowing range with a potential downside. The Symmetrical Triangle, however, represents a period of consolidation where the range narrows in a sideways fashion, making a breakout in either direction equally probable.
Martinez shared a chart illustrating Solana's price movement within the Symmetrical Triangle, showing that as the price neared the apex of the triangle, a breakout became increasingly likely. The asset successfully broke above the pattern, indicating a bullish trend. According to Martinez's analysis, the next potential price target for
could be $164, which corresponds to the 1.272 Fibonacci Extension line. This level is significant as it is derived from the 'Golden Ratio,' a mathematical concept often used in technical analysis to predict price movements.At the time of writing, Solana's price was around $158, reflecting a 3% increase over the past 24 hours. This upward movement aligns with the bullish outlook suggested by the breakout from the Symmetrical Triangle. The next steps for Solana will be closely watched by analysts and investors alike, as the cryptocurrency continues to navigate the volatile market landscape.
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