SOL chart is the most bullish in crypto right now — Is $260 next?
Several technical indicators and chart patterns point to more upside for Solana (SOL), with analysts and chartists pinning the next meaningful targets near the $255–$260 area.
Price action in recent days showed SOL spike to a six‑month high near $209 before pulling back about 16% to roughly $175, then bouncing back toward the $180 area. That consolidation now appears to be forming a classic bull‑flag on the daily chart: a falling channel after a sharp advance that often resolves with an upward breakout and continuation of the preceding rally.
On the daily chart, SOL faces immediate resistance at the flag’s upper boundary near $190. A decisive daily close above that level would clear the path for a measured move to the flag’s target in the high‑$250s (roughly $258), which roughly aligns with the $260 zone cited by several analysts as the next logical stop.
Viewed on a longer timeframe, the weekly structure resembles a V‑shaped recovery: after the prior decline the token has staged a relatively rapid rebound. For bulls to extend the recovery toward the weekly neckline, they need to flip the $200 area into reliable support; that would increase the odds of a run toward the $260 neckline and a roughly 40%+ move from recent prices.
Momentum indicators also support the case for further gains. The relative strength index (RSI) has climbed from the mid‑30s into the mid‑50s, suggesting bullish momentum is building but not yet overbought. Price is trading above major moving averages on both daily and weekly charts, and in the shorter four‑hour timeframe SOL sits above its 100‑ and 200‑period SMAs — technical signs that downside risk may be limited while the uptrend remains intact.
Technicians on social channels have echoed the bullish read. One analyst highlighted an ascending‑triangle look that could precede a large breakout, projecting intermediate targets in the low‑$200s and mid‑$200s if the structure validates. Another chartist described the recent bounce off an uptrend line as a “perfect” support reaction and suggested the move could ultimately chase earlier range highs near the $295 all‑time area.
Beyond charts, on‑chain metrics have been cited as supportive of longer‑term demand for SOL: rising DeFi activity, growing network fees and high transaction throughput are all being pointed to as evidence of continued ecosystem usage that could underpin price over time.
As always, technical targets are probabilistic, not guaranteed. Breakouts can fail, patterns can invalidate, and market conditions can shift quickly. This summary is a paraphrase of a Cointelegraph market analysis and does not constitute investment advice — readers should do their own research and consider risk management before trading.
Source: Cointelegraph
