SOL Bottomed, Rare Bullish Pattern May Signal a Major Upswing
Technical signals that previously preceded Solana’s most dramatic rallies are re‑emerging on the weekly chart, prompting analysts to look for a fresh price surge.
A familiar chart pattern resurfaces
On the weekly SOL/USD chart, a series of candles with pronounced lower shadows has begun to form. Crypto‑technical analyst WebTrend points out that this configuration—where each candle’s wick is markedly longer on the downside—historically indicates that sellers are being absorbed as buyers step in at progressively lower levels.
The same visual cue appeared in early 2023, shortly before Solana launched a 1,604 % rally, and again in 2025 ahead of a 142 % price gain. The recurrence of the pattern after a prolonged trough has led market watchers to label it a “macro‑bottom” signal.
Price action and immediate resistance
Spot and futures data show a modest but steady climb in activity as SOL nudges toward a critical weekly threshold around $93.50. This level previously acted as resistance and now serves as a “floor” that the token is testing.
Crypto trader Bluntz notes that the daily chart has completed an ascending‑triangle breakout: higher lows are meeting a flat resistance line, a classic bullish formation. The price consolidation above $93.50 aligns with this breakout, suggesting that the accumulation phase may be ending.
Targets and upside potential
If the weekly pattern holds and buying pressure continues to dominate, the next logical resistance lies near $120—a zone that functioned as support throughout much of 2024 and 2025. Should SOL recapture that area, the chart points to $145 as the subsequent milestone, contingent on sustained momentum.
Underlying market dynamics
While the price structure looks encouraging, derivative metrics reveal a cautious backdrop:
| Metric | Current Reading | Interpretation |
|---|---|---|
| Open interest (futures) | < $2.3 bn (steady since Feb 6) | Traders are not yet piling on leverage, indicating measured optimism. |
| Cumulative Volume Delta (spot) | Stabilised over the past month | Net selling pressure has diminished, supporting a spot‑driven recovery. |
| Cumulative Volume Delta (futures) | Improved from –$3.5 bn to –$2.8 bn since Feb 24 | A reduction of roughly $700 m in sell volume, hinting that bearish momentum is waning. |
| Funding rate (aggregated) | Near neutral | Neither long nor short positions dominate, underscoring a balanced market stance. |
The data suggest that the rally, if it materialises, is likely to be powered by spot buying rather than a leveraged futures surge. The $120 region remains a pivotal psychological and technical barrier; a clear break above it could attract more speculative capital and validate the bullish narrative.
Broader context
The resurgence of Solana occurs amid a broader market shift. Recent commentary from industry executives warns that “altseason is dead,” with shorter cycle lengths and more abrupt rotation between assets. In such an environment, clear technical signals—like the one now visible for SOL—gain added importance for traders seeking higher‑conviction entry points.
Key Takeaways
- Technical signal: Consecutive weekly candles with long lower wicks have re‑appeared, a pattern that previously foreshadowed Solana’s biggest gains.
- Price level to watch: $93.50 acts as immediate resistance; breaking above it could set the stage for a move toward $120 and, if confirmed, $145.
- Market sentiment: Open interest remains subdued, and funding rates are neutral, indicating a cautious but improving risk appetite.
- Potential catalyst: A sustained spot‑driven recovery, backed by the weekly pattern, could trigger a rally comparable to those of 2023 and 2025.
- Caveat: The rally’s magnitude will depend on whether buying pressure can translate into higher‑leverage participation and whether broader market cycles remain supportive.
As always, crypto markets are volatile. Investors should conduct independent research and consider risk management before acting on any technical signal.
Source: https://cointelegraph.com/news/sol-price-signal-tied-to-previous-142percent-rally-flashes-again-are-the-bulls-back?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
