Solana (SOL) surges 4.3% this week, driven by technical indicators and bullish sentiment

Solana (SOL) has experienced a notable 4.3% increase this week, recovering from a recent low of $126. At the time of writing, SOL is trading at $147.12, driven by a breakout above triangle resistance and improving technical indicators. The sixth-largest cryptocurrency by market cap is now positioned to test higher levels, supported by a newly formed golden cross on the short-term chart and increased long exposure among Binance traders.

Key bullish indicators include a price breakout above $144.02 triangle resistance, a bullish EMA crossover with the 50-EMA rising over $143.22, higher lows since the $140.28 rebound, and a MACD crossover with an expanding green histogram. The current price structure shows a clean triangle breakout on the 2-hour chart, with SOL climbing above the converging resistance zone. This pattern, characterized by higher lows and lower highs, typically precedes a strong move. In Solana’s case, momentum has favored the upside, and the golden cross between the 9-day and 21-day moving averages is reinforcing that outlook.

If buyers sustain the price above $147.50, the next key levels lie at $150.54, $154.43, and potentially $158.81. Analysts believe SOL could even reach $172.51 in the midterm, a move that would represent a 17.2% gain from current levels, if investor engagement rebounds. Meanwhile, Binance trader data reflects growing optimism, with a rising number of long positions opened on SOL. This supports the case for a sentiment-driven rally, provided broader market conditions remain risk-on.

Although the Solana price prediction remains bullish, with SOL testing the upper band of its breakout zone, traders have two options depending on their risk tolerance. One trade setup involves buying above $147.50 on strong volume, with targets at $150.54 and $154.43, and a stop-loss below $144.00. An alternative entry strategy is to wait for a pullback to the $144.00–$145.00 zone and buy on confirmation of support. As long as the price remains above $140.28 and volume trends upward, SOL’s path toward $160 and beyond remains intact. Traders should watch for a decisive daily close above $150 to validate further upside toward $172. This structure suggests bulls have the upper hand, if participation returns.