Solana News Today: Solana (SOL) Eyes $270 After Wedge and Rectangle Breakouts

Solana (SOL) has formed a technical chart pattern indicating potential upward movement toward $270 and beyond, with an extended target near $330. The structure combines a falling wedge breakout followed by a rectangle consolidation, signaling a continuation of bullish momentum. As of the latest data, SOL is trading near $183.19, with key support above $183 considered vital for maintaining the projected price trajectory [1].

The falling wedge pattern, observed from late 2024 into early 2025, marked an early reversal from a prolonged downtrend. The wedge, outlined in red, narrowed as lower highs and lower lows converged toward a breakout point. The reversal became evident in April 2025 when prices broke upward, setting the stage for the next phase of consolidation [1].

Following the wedge breakout, Solana’s price action developed into a rectangle pattern, marked in orange, between approximately $132 and $183. This consolidation phase concluded with a breakout that returned price to the current level of around $183. In technical analysis, rectangles are often seen as continuation patterns, and the measured move from this structure suggests a near-term target of $270. Sustained trading above the rectangle’s upper boundary validates the pattern’s strength [1].

Volume behavior during the rectangle phase indicated a balanced struggle between buyers and sellers. However, as buyers regained control, momentum shifted upward, supporting the breakout projection. The technical setup now requires continued buying pressure to confirm the pattern and push toward $270 [1].

Beyond this level, an extended target near $330 is in sight. This projection, marked in blue, is derived from the larger pattern combining the falling wedge and rectangle breakouts. To reach this level, Solana must hold support above $183 and overcome resistance at $270. The symmetrical nature of the chart pattern suggests that the bullish impulse may still be in its early stages [1].

If the price maintains its trajectory, the $330 level could signal the completion of the broader technical setup. However, this will depend on sustained buyer participation and the absence of major reversal signals. Traders are closely monitoring key levels outlined in the chart for confirmation of the projected bullish move [1].

Source: [1] Solana Targets $270 With Breakout Path to $330 (https://cryptonewsland.com/solana-targets-270-with-breakout-path-to-330/)