English | Español | Français
Market Cap: $ 3.76 T 24h Vol: $ 187.49 B BTC Share: 62.43%
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
bitcoinBTC/USD
$ 118,078.64 0.46%
No Result
View All Result
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
BTCNEWS
No Result
View All Result
Home Altcoins

Solana Eyes $188 Target With Bullish Reversal Pattern In Play

Kate Benson by Kate Benson
July 10, 2025
Share on FacebookShare on Twitter

Solana (SOL/USD) stands at a pivotal technical crossroads as the cryptocurrency completes a textbook inverted head and shoulders reversal pattern that has been developing over the past several weeks.

Trading at $157.62, Solana is now testing the pattern’s neckline resistance in what could prove to be the catalyst for a substantial upward move that breaks the recent consolidation phase and establishes a new bullish trajectory.

The reversal formation displays classic characteristics, with the left shoulder carved out around the $150 zone during the initial decline, followed by a more pronounced drop that established the head near $128.

The right shoulder has subsequently formed at levels consistent with the left, creating the symmetrical structure that validates this powerful bottom pattern. This technical development suggests that the recent period of distribution and selling pressure has run its course.

The neckline, which connects the rally peaks between the shoulders at approximately $158-$160, represents the final technical barrier that stands between the current consolidation and a potential breakout scenario.

A convincing breach of this resistance zone would confirm the pattern’s completion and trigger the measured move calculation that projects an initial target near $188, derived from adding the pattern’s height to the breakout point.

solana july 10 2025

The technical setup suggests that Solana has built a solid foundation during the consolidation period, with each test of lower levels met by increasingly strong buying interest that has gradually shifted the supply-demand balance in favor of bulls.

Bullish Solana Resolution

The moving average structure has undergone a meaningful transformation throughout the pattern’s development, with the shorter-term averages beginning to flatten and show signs of upward curvature.

The 100-period moving average has stabilized near current price levels, while the 200-period average has transitioned from steep decline to sideways movement, indicating that the longer-term bearish momentum has been neutralized.

This convergence of key moving averages creates a supportive technical environment that could facilitate the anticipated Solana breakout. The narrowing spread between the indicators suggests that a bullish crossover is approaching, which would provide additional confirmation of the trend reversal and likely attract algorithmic and institutional buying strategies that monitor such technical developments.

Impending Trend Acceleration

Stochastic readings have recovered from deeply oversold levels and are now positioned in the middle range, providing substantial room for further upward movement before reaching overbought territory. The oscillator’s current configuration suggests that buying momentum can build significantly without immediately encountering technical resistance from extreme readings.

MACD has demonstrated constructive behavior, with the signal lines converging near the zero level after an extended period in negative territory. The histogram shows signs of stabilization and potential positive divergence, indicating that bearish pressure has been absorbed and conditions are ripening for a momentum shift that could coincide with the neckline breakout.

Tags: solSolanasolusd

Related News

xrp july 10 2025

XRP Breaks Out Of Reversal Pattern, Eyes $3 In Bullish Surge

July 10, 2025
cardano july 9 2025

Cardano Breaks Higher While Uptrend Continues To 61.8% Fib Extension

July 9, 2025
xrp july 9 2025

XRP Tests $2.33 Barrier Amid Bullish Ascending Channel Trend

July 9, 2025
solana july 8 2025

Solana Rally Slows While Descending Triangle Forms Above $145

July 8, 2025
bitcoin
Bitcoin (BTC)
Rank: 1
$ 118,078.64
Price (BTC)
Ƀ1.00000000
Marketcap
$ 2.35 T
Volume
$ 41.38 B
24h Change
0.46%
Total Supply
19.89 M BTC

  • About Us
  • Contact
  • Advertise
X-twitter Telegram Facebook Instagram Youtube Medium Linkedin

Information you can trust

BTCNews.com provides Bitcoin news and other cryptocurrency news, reaching millions of crypto enthusiasts daily.

It offers comprehensive coverage of business, financial, and international news related to digital assets.

Serving professionals through digital platforms, industry conferences, and direct updates, BTCNews.com is a premier provider of blockchain and crypto news.

Disclaimer: The information provided by BTCNews.com is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments are highly volatile and involve significant risks.

Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. BTCNews.com is not responsible for any losses incurred due to the use of information provided on this site.

  • © 2008 - 2024 BTCNews.com
  • Terms of Use
  • Privacy
  • Cookies
No Result
View All Result
  • Market
    • Crypto Prices
    • Crypto Exchanges
  • Learn
    • Glossary
  • News
    • Latest

© 2008 - 2024 BTCNews.com