- Solana is holding key support at $145, with analysts closely watching for a potential breakout toward $180 if bullish momentum resumes.
- While short-term charts show consolidation and bearish patterns, a cup-and-handle formation on the weekly chart suggests a long-term move toward $300 may still be in play.
Solana (SOL) is at a critical juncture, defending its pivotal $145 support level after a strong recovery rally. While short-term price action suggests consolidation and heightened bearish pressure, bullish setups on the weekly chart leave analysts optimistic about a potential surge toward $180—or even beyond the $300 mark in a longer-term breakout.
After recovering from a low near $95, SOL soared to a swing high of $157. Yet, the broader crypto market has remained muted, causing a sudden drop in buying momentum. Solana slipped below the $150 psychological barrier and is now oscillating in a tight $145–$155 range. Trading around $148, the token’s minor lower wick on the latest 4-hour candle hints at lingering buyer interest, but the uptrend has lost some steam amid sideways movement.
Short-Term Technical Analysis
On the 4-hour chart, SOL’s recovery took it above key technical thresholds, including the 200-day EMA and a falling wedge breakout. However, the bulls’ inability to hold above $150 led to consolidation and the completion of a bearish head-and-shoulders pattern. The pattern’s neckline aligns precisely with the $145 support, meaning a break below this level could precipitate a swift pullback toward the 200-day EMA near $137—or potentially as low as $124.
The recent breakdown of a local ascending trendline on the 4-hour chart further raises the risk of a deeper correction. Traders will watch the 50-period EMA as dynamic support: a sustained hold above this moving average could reignite buying, while a failure to defend it might accelerate selling pressure.
Weekly Chart Bullish Setup
Contrasting the near-term caution is a bullish outlook on the weekly timeframe. Crypto analyst Ali Martinez highlights a developing cup-and-handle pattern, with the cup’s right rim near $300. Solana is currently tracing the handle, approaching the overhead trendline that defines the final consolidation before a potential breakout.
Zooming out, #Solana $SOL appears to form a textbook-perfect cup and handle pattern! pic.twitter.com/91oYYgY0yL
— Ali (@ali_charts) April 28, 2025
Historically, a weekly cup-and-handle breakout can trigger sharp, trend-defining moves—suggesting SOL could target fresh all-time highs if it clears the $300 neckline in due course.
Key Price Targets and Risk Management
In the immediate term, bulls need to hold the $145 support to keep the upside narrative alive. A successful rebound and breakout above $155 would pave the way for successive targets at $165 and ultimately $180. This zone represents the next major resistance cluster on the 4-hour and daily charts, where profit-taking could intensify.
On the downside, failure to defend $145 exposes the 200-day EMA at roughly $137 as the first line of support, followed by the longer-term $124 level. A breach of $124 would invalidate the current bullish thesis and potentially open the door to deeper declines.
Solana’s ability to defend $145 is paramount: it separates a potential run toward $180 (and beyond on the weekly breakout) from a deeper pullback toward $137 or lower. Traders and investors should monitor the interplay between short-term bearish patterns—like the head-and-shoulders and the optimistic weekly cup-and-handle.
If bulls reclaim momentum above $155, the path to $180 could open swiftly, setting the stage for Solana’s next major leg higher.
