Solana is gaining bullish traction after breaking out of an ascending triangle formation. The move signals strong technical momentum and points to a potential surge toward $164.

Price Structure Reinforces Investor Confidence

SOL is currently trading at $158, having posted a 5.3% daily gain. This follows a steady upward trend after months of consolidation between $120 and $130. The price rebound, backed by over $3.2 billion in 24 hours trading volume and a market cap near $82 billion, signals renewed optimism from traders seeking resilience in a stabilizing crypto market.

The recent push higher has elevated Solana above critical resistance zones, drawing increased interest from long-term investors who view its structure as a signal of lasting strength amid wider market indecision.

Breakout Confirms Momentum Shift

The key catalyst behind this move is a confirmed breakout from an ascending triangle—a continuation pattern suggesting accumulation. Solana’s horizontal resistance at $140-$145 and rising support from higher lows created the setup. A surge above this structure, backed by volume, now targets a technical price goal near $164.

This projected target comes from measuring the triangle’s height ($40) and adding it to the breakout level ($124). Such formations often reflect growing buy-side pressure, and in Solana’s case, the shift appears to be taking hold.

Network Risks Temper Long-Term Outlook

While the short-term trajectory remains bullish, underlying challenges still warrant caution. Solana’s historical issues with network congestion and transaction stability continue to be key concerns, particularly under heavy demand.

Questions also persist around scalability and cost-efficiency. However, if the breakout holds, the $164 level could mark a 30% rally from previous consolidation. Macroeconomic trends and blockchain-specific developments will ultimately decide whether this move sustains or fades in the coming sessions.

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