Solana Price Nears Triangle Breakout Amid Ongoing Retail Support

Solana's price is approaching a potential breakout from a triangle pattern on its daily chart. The converging trendlines have been narrowing since late May, with the price currently testing the upper boundary near $165. A breakout above this level could open the path toward the next resistance zone around $180.

The relative strength index (RSI) sits near 55, indicating neutral momentum, and trading volume has been gradually declining during the pattern's formation, a typical characteristic that often precedes a volatility expansion.

Despite the technical setup, retail support for Solana remains robust. Data from major exchanges shows that smaller wallet addresses have been accumulating SOL over the past two weeks, counterbalancing profit-taking by larger holders.