Solana Bulls Emerge as Price Breaks Above Key Resistance
Solana's price action has caught the attention of analysts, particularly after the altcoin broke above $76 following a recovery of more than 6% over the past week. This uptick in price is accompanied by several bullish signals that suggest SOL may be heading towards a level not seen since February 2026.
Ali Martinez notes that Solana appears to be trading within a parallel channel, with the current price hovering near the mid-range of $78. A break above this level could potentially push SOL towards the channel's upper boundary around $100.
The TD Sequential on the crypto asset's daily chart has also flashed a buy signal, which typically anticipates a 1-4 candle upswing or the start of a new 'bullish countdown.' The resistance trendline at $78.7 is near the mid-range, making it a crucial level for confirmation.
The MACD has printed a golden cross, adding another sign that SOL may be approaching an upside breakout. If these signals are confirmed, Martinez suggests that the altcoin could reach its target of $100.