📅 Date: June 29, 2025
📊 Pair: Solana / U.S. Dollar (SOL/USD) – Daily Chart (CRYPTO)
🔹 Weekly Recap (June 24–28, 2025)
Solana bulls made a notable comeback this week, with SOL closing at $151.38, up +0.40% on the last trading day. More importantly, the price broke out of the descending parallel channel that had capped its rally for nearly two months. This technical breakout could mark a potential trend reversal if sustained above key levels.
📈 Technical Analysis: Breakout from Downtrend Channel
Solana has been trading within a well-defined descending channel from mid-May to late June. The recent bullish move pushed the price above the upper trendline, supported by rising volume and solid green candles.
🔹 Bollinger Bands (BB20) Overview:
- Upper Band: $162.35 – next potential resistance
- Middle Band (20 SMA): $147.09 – now acting as support
- Lower Band: $131.83 – recent swing low support
✅ Breakout Confirmation:
- SOL has closed above both the 20-SMA and channel resistance line.
- This indicates an early sign of a bullish reversal, especially if follow-through buying continues into next week.
✅ Volume:
- While not explosive, volume is rising — indicating increasing interest from bulls.
📅 Outlook for July 1–5, 2025
Solana looks poised to continue its recovery move if it can sustain above $147, the 20-SMA and channel breakout point. A test of $162–165 resistance zone looks likely next week.
🔮 Key Levels to Watch:
- Immediate Resistance:
- $155 (recent swing high)
- $162.35 (Bollinger upper band)
- $165–170 zone for stronger resistance
- Support Levels:
- $147 (20-SMA and breakout level)
- $140 (psychological and prior structure)
- $131.83 (lower BB, strong downside buffer)
📌 Conclusion
Solana’s breakout from the descending channel is a bullish technical signal, and the move above the 20-SMA confirms growing buyer strength. If price holds above $147, SOL could target the $160–165 zone in the coming sessions. However, failure to hold this breakout level may invite fresh selling.
🔗 Related Technical Outlook
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⚠️ Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile and speculative. Always do your own research or consult with a financial advisor before trading.
📢 Published by: StockMarketRulers.com
📈 Trusted source for technical crypto insights including BTC, ETH, SOL, and top altcoins.
