Solana’s (SOL) Big Breakout: Will It Keep Soaring?

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Well, well, well, Bitcoin (BTC) seems to be in the midst of a correction. Meanwhile, Solana is having a field day, up by 15.6% this week. The question on everyone’s lips: can $SOL go even higher? Is this the moment when we all should grab our popcorn? 🍿

Ah, $SOL Breaks Through Resistance Like a Dashing Hero

It’s all looking quite delicious on the weekly chart for $SOL. The price has not only managed to crush the $220 resistance like a paper cup in a rainstorm but is now flirting with the idea of turning it into support. Imagine that, turning enemies into allies. How very dramatic. 🤩

If you take a closer look, you’ll see the last major resistance levels hanging out at the top of the weekly candles from back in November 2024 and January 2025. A romantic past, no? Let’s not get too nostalgic. The present is looking just as spicy!

But wait, the Stochastic RSI indicators down below are nearly at their peak. But don’t get too excited, there’s still some room left before we hit the limit. These indicators, like an overzealous cat, may continue bouncing along the top for quite some time. 🐱

High Time Frames: Because Who Doesn’t Love Some Long-Term Drama?

Now, the ultra-high time frames are not for the faint of heart. Traders and long-term investors alike might look at these with a side-eye, but let’s be bold, shall we? The 2-month time frame chart offers a thrilling spectacle, showcasing that the main support/resistance level here is the $200 mark. And guess what? We’re already well beyond it, as if it was just a minor inconvenience. Talk about confidence. 💅

Fibonacci extension levels from the 2021 highs to the 2022/2023 lows give us a juicy 0.786 Fibonacci level, which is as cozy as a cushion for major support. The real fun begins when we look at the extension level up to 1.618, suggesting a glorious target of $414. So, what’s it going to be? A fairytale ending or just another number crunching session?

SOL/BTC: A Tense Showdown at the Multi-Year Downtrend Line

Now, let’s talk about the main event: SOL/BTC. This is the coin-to-coin face-off that could change everything. The weekly chart for SOL/BTC shows a lovely little W pattern, which has now sent SOL/BTC toward the multi-year descending trendline. It’s like watching two old friends have a dramatic reunion. So, if $SOL can break through this downtrend line and punch a higher high above 0.003 BTC, who can say how far $SOL could go? Strap in, folks. The bull market’s last stage might just be the wildest one yet. 🎢

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2025-09-12 15:25