Solana is forming a tight consolidation pattern above a major support area, signaling growing potential for an impulsive move higher. The alignment of strong technical levels, bullish momentum, and accumulation behavior suggests that a push toward $240 may be in development.

Support Cluster Holds as Momentum Reignites

The asset recently rebounded off the $156–$160 range, where the 0.618 Fibonacci level aligns with VWAP and prior swing lows. This zone has repeatedly absorbed downside attempts, forming the foundation for the current bullish bias. Daily charts show reversal candles, indicating buyers are taking control.

Overhead, the $176 level—combining the 200-day moving average and Point of Control—remains the major resistance. A confirmed break above it could pave the way for a test of $200, followed by the full range high near $240.

Momentum is building, with the Stochastics RSI crossing up from oversold levels and curving higher—often a prelude to explosive upside in previous Solana cycles. Buyers have absorbed selling pressure during the recent range, suggesting strength underneath the surface.

Structure Supports Expansion if Volume Confirms

Volume has remained muted through the consolidation, a typical feature of accumulation phases. A breakout on rising volume would confirm the move and reinforce bullish continuation. According to auction theory, Solana has rotated from the low of its value range and now eyes the upper boundary.

If $176 is breached, the move toward $240 could unfold quickly. On the flip side, a failure to hold support may cause another visit to the $148-$150 range—but current structure still leans bullish as the breakout nears.

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