Solana (SOL) Bulls Complete Bullish Breakout — Eye $360 Mid-Term Target

Solana (SOL) has emerged as a major headliner following an impressive 20.89% gain over the last week. Solana’s price now sits comfortably within the $240 price range and is only 18.05% away from its present all-time high at $294. Interestingly, renowned market expert Ali Martinez has noted a positive effect of SOL’s recent price surge, which points to a sustained price ￰0￱ Reading: Analyst Sets Bold $1,314 Target For Solana After Cup-And-Handle Breakout SOL Surges Above Key $205 Resistance: Fibonacci Levels Point Toward $362 In an X post on September 13, Martinez shares an in-depth technical analysis of the Solana price structure, which shows significant potential for a prolonged uptrend.

Notably, SOL’s price gain from last week resulted in a breakout from a key ascending triangle formation, signaling strong bullish momentum that projects to higher mid-term ￰1￱ at the chart below, the latest price surge effectively lifted Solana above the multi-month resistance zone near $205, where price had consolidated between April and ￰2￱ is clearly observed that breaking above this resistance, combined with the sustained higher lows that formed the ascending triangle, points to a classic bullish continuation pattern. Notably, the introduction of the Fibonacci extension levels provides more insight into the bullish potential of this recent ￰3￱ immediate price target presently lies at the 1.272 Fibonacci extension around $250, followed by the 1.414 extension near $277.

However, if momentum continues, Solana could reach further upside levels, around $321 (1.618 extension) and the ultimate mid-term target at $362, which corresponds with the 1.786 ￰4￱ the downside, the $205 breakout zone now serves as critical ￰5￱ above this level is crucial to maintaining the bullish outlook, as a decisive break below it could open the door for a retest of lower Fibonacci retracement zones, particularly around $176 or $156. However, the rising trendline that has supported price action since April adds another layer of structural support for ￰6￱ Reading: Bitcoin Flips Key Support, Bulls Now Target $117,000 Solana Price Outlook At the time of writing, Solana is trading at $246, reflecting a modest 1.67% gain over the past 24 hours.

However, trading volume has declined sharply by 27.53%, currently standing at $7.49 ￰7￱ to analysts at Coincodex, investor sentiment toward Solana remains broadly bullish, even as the Greed & Fear Index sits at a neutral ￰8￱ short-term outlook suggests limited price movement, with the asset projected to remain around $247 for the next ￰9￱ further ahead, analysts expect Solana to climb to $264 over the next three months, highlighting steady but moderate growth expectations. Nevertheless, with a market cap of $131.65 billion, Solana continues to rank as the fifth-largest cryptocurrency in the ￰10￱ image from Forbes, chart from Tradingview