Solana Breakout Sets Stage for Relief Rally to $115

Solana (SOL) has flashed a buy signal for the first time since January, according to analyst Ali Martinez. The token broke out of a six-week consolidation range and is now targeting $115.

The SuperTrend indicator on the daily chart flipped from Sell to Buy, indicating a potential relief rally. SOL jumped 22% from its March lows and briefly touched a one-month high of $97 before pulling back to $90 on Wednesday.

Martinez cited the UTXO Realized Price Distribution metric, which shows a demand floor between $82.60 and $85.55 where 76 million SOL tokens changed hands. This accumulation phase has exhausted sell-side liquidity, he said, adding that SOL has 'a clear path toward the $100 psychological level, followed by the $115 liquidity cluster.'