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SOL is moving inside a steady ascending channel with a sequence of higher highs and higher lows. The recent retracement from the 206 zone has respected the channel’s trendline support, with price holding firm above the higher low near 166. This shows buyers are still in control despite short-term pullbacks.
The chart’s structure highlights multiple break of market structure and change of character points that have led to strong rallies in the past. Every time sellers tried to push lower, buyers stepped in aggressively and kept price within the rising range. This pattern has not been broken, suggesting the trend is intact.
The arrow projection points to a bullish continuation, with price potentially moving toward and beyond the upper channel resistance near 206. If this breakout plays out, the next significant target could be in the 240–260 zone, aligning with the overall positive market sentiment.
Volume patterns also support this scenario — upswings have seen increased participation, while pullbacks have been shallow and quickly reversed. This combination of technical structure and buying momentum gives weight to the idea that SOL may be starting its next upward leg soon.
As long as price stays above the 166–170 support area, the bullish case remains valid. A decisive push above 186 would likely confirm that the market is ready to challenge recent highs and follow the projected upward path. The focus now is on whether buyers can keep this momentum and deliver the breakout that the arrow hints at.