Solana (SOL) price shows signs of a potential breakout after recent volatility. The cryptocurrency surged to $290 in January before retreating to $200 in early February. Despite the pullback, SOL remains within an ascending triangle pattern, a bullish indicator suggesting further gains. If this trend holds, the next target could be $565, contingent on strong market momentum and sustained buyer interest. Can Ascending Triangle Breakout Push Solana Price to $565? Solana price has been forming ascending triangles before each breakout, with Fibonacci 2.618 acting as a key target. Historical trends suggest that every breakout reaches this level before consolidating. The current pattern indicates that the ongoing ascending triangle is more than halfway complete, signaling a potential breakout. Technical analysis points to a possible surge, with the next target projected at $565. Previous instances have followed a similar structure, consistently hitting Fibonacci 2.618 before retracing. If the trend persists, Solana could see another rally, with traders closely watching the breakout confirmation. Analyst Predicts $245 Short-Term Surge in SOL Price Crypto analyst Ali has highlighted a key market trend that could impact Solana’s price movement in the short term. According to a recent liquidation heatmap, a surge in Solana to $245 may trigger a major shift in market positioning, with billions in short positions at stake. The analysis suggests that a break above the $245 price level could lead to widespread liquidations, forcing short sellers to cover their positions. This scenario could create further momentum for Solana, increasing its price in response to forced buy orders. Will Solana Price Hold Above $200 Support Level? As of Monday, February 10, the SOL price hovered around $205, reflecting a 2% gain during the U.S. trading session. The top altcoin has been attempting to regain momentum after recent crypto market fluctuations, with key resistance and support levels coming into focus. Solana price prediction faces resistance at $220, with a stronger hurdle at $250. If bullish momentum strengthens, the price may attempt a breakout toward the $300 psychological level. On the downside, immediate support rests at $190, and failure to hold could open the path for a deeper correction. The Moving Average Convergence Divergence (MACD) shows a slight bullish crossover. The blue MACD line is moving above the signal line. This suggests growing buying pressure, though the momentum remains moderate. The Relative Strength Index (RSI) stands at 56, hovering above the neutral 50 mark. Solana Price Chart: TradingView To sum up, the Solana price remains within an ascending triangle, signaling a possible breakout. A strong push above key resistance levels could fuel a rally toward $565. The post Solana Price Analysis: Can Ascending Triangle Breakout Push SOL to $565? appeared first on CoinGape .
