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Analyst: SOL resistance level is $250, long-term bullish target is $1250
2hours ago

Odaily Planet Daily reports that thanks to the recent buildup of Solana (SOL) reserves by several listed companies, 99 Bitcoins expert analysts have highlighted the formation of a large ascending triangle on Solana's weekly chart, bringing it back into the spotlight. Analyst Captain Fabric highlighted this structure, which shows a pattern of higher lows amidst strong resistance near $250. This setup is generally considered a bullish signal. It indicates steady buying pressure, with investors willing to enter the market at higher levels during price pullbacks. A subsequent weekly close above $250 would validate the ascending triangle and set the stage for a sustained rally. Based on the movement forecast measured from the depth of the pattern, analysts have set a long-term target of $1,250. Momentum indicators also support the bullish view, suggesting stable and resilient demand during the recent decline. Solana remains in a consolidation phase, but the chart suggests that time is running out for a decisive move. If a breakout materializes, the coming months could position it as one of the leaders of the 2025-2026 cycle.