Solana Targets 260 After Breaking 180 Resistance

Solana, a prominent cryptocurrency, is poised for a significant rally, with analysts targeting a price of $260. However, for this rally to materialize, Solana (SOL) must first overcome a critical resistance level at $180. The cryptocurrency has recently shown promising signs, forming a bull flag pattern on its daily chart, which typically indicates a continuation of an uptrend after a period of consolidation. This pattern suggests that if SOL can break above the $180 resistance, it could surge towards its first target at $200, with further potential to reach $220 if the momentum sustains.

The relative strength index (RSI) currently stands at 64.30, indicating healthy momentum without overbought conditions. This supports the bullish trend, but analysts advise caution due to declining volumes during the consolidation phase. A lack of buying pressure could potentially stall the breakout, making it crucial for SOL to achieve a clear market structure break (MSB) or a decisive bullish breakout above $180 to trigger the next leg of the rally.

If SOL fails to breach the $180 resistance, the immediate key area of interest shifts to the range between $140 and $150. In this scenario, the bull flag pattern would be invalidated, and the support range, which is a daily order block, would provide higher time frame (HTF) support in case of a price correction.

Crypto trader Robert Mercer shared a chart identifying a price fractal pattern similar to October 2024. Mercer highlighted two critical zones: one around late 2024, where SOL broke past $180 after consolidation, and a current zone mirroring that setup. He predicts that a breakout above $180 could trigger a sharp upward rally, mirroring the late 2024 rally that saw SOL peak near $260.

Technical analyst Javon Marks identified a hidden bullish divergence on Solana's 3-day chart, a pattern that previously triggered a 1,332% surge in 2024. Marks suggested that if this pattern breaks out again in 2025, Solana could reach a price target of $450. Popular crypto trader XO also remained on the lookout for a long opportunity, but suggested waiting to see if Solana could flip the $180 level into support.

The overall sentiment remains bullish for Solana, with analysts and traders closely monitoring the $180 resistance level. A successful breakout could propel SOL towards new highs, while a failure to breach this level could lead to a correction. Investors and traders are advised to conduct their own research and consider the risks involved before making any investment decisions.