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Solana is facing a critical test this week, consolidating in a tight range 
between $145 and $160 since Monday. The price action reflects strong buying 
interest but also hesitation as bulls struggle to reclaim higher levels. 
Despite holding above key support, Solana must break decisively above 
resistance to confirm a bullish breakout and continue its upward trend. 
Related Reading: Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In 
Focus? Market momentum has favored bulls in recent weeks, but Solana’s 
inability to breach the $160 zone raises questions about the strength of this 
trend. Top analyst Carl Runefelt shared insights highlighting that Solana is 
currently ranging within a rising channel pattern—a structure that, while 
seemingly bullish, can often precede a breakdown to lower demand zones if 
support fails. This makes the coming days especially important for SOL’s 
trajectory. As macro conditions improve and Bitcoin flirts with new all-time 
highs, Solana is expected to respond in kind. However, technical signals 
suggest caution. A break below the rising channel could target the $128.50 
support area, while a successful breakout above $160 could open the door to 
retesting local highs. Traders and investors alike are closely watching 
Solana’s next move in this high-stakes consolidation phase. Solana Holds Key 
Support Amid Rising Channel Formation Solana is currently trading below the 
$150 level, reflecting a notable 20% decline from its local high set in May. 
Despite this setback, the asset continues to hold a strong support base, 
signaling that bullish sentiment has not entirely faded. The broader market 
remains in a consolidation phase, with Solana showing signs of indecision as 
it moves sideways within a tightening price range. Analysts remain cautiously 
optimistic, pointing out that a breakout above the key $150–$160 supply zone 
could spark renewed upside momentum. However, the current price structure 
suggests that Solana may not be ready yet to retest previous highs. According 
to Carl Runefelt, Solana is ranging within a rising channel—a pattern that can 
lead to sharp movements if broken. While rising channels can sustain bullish 
continuation, a breakdown below the lower trendline often results in 
accelerated downside moves. Runefelt warns that if Solana breaks below the 
channel, the next key support area lies around $128.50. This level has 
historically acted as a strong demand zone and could serve as the next target 
in the event of a bearish move. In the meantime, Solana’s consolidation 
reflects broader market uncertainty, with traders waiting for a decisive 
breakout or breakdown to guide positioning. A successful reclaim of the $150 
level would improve sentiment significantly and could set the stage for a push 
toward the $170–$180 range. On the other hand, failure to hold above current 
levels may shift the narrative toward further downside risk. Related Reading: 
Chainlink Consolidates Above Key Support – Bulls Eye $20 Range SOL Holds Range 
Amid Resistance Solana (SOL) is currently trading at $147.62, moving sideways 
within a tightening range and forming a potential rising channel pattern. The 
daily chart reveals that SOL has been unable to break decisively above the 
$155–$160 resistance zone, while strong support remains near the $140 level. 
Price action shows repeated rejections near the 100-day moving average (blue 
line), which now acts as dynamic resistance around $155.60. The 200-day moving 
average (red) sits further above $165.54, marking a long-term resistance area. 
Volume remains relatively low compared to early June spikes, suggesting market 
participants are waiting for a clear breakout direction. A push above $160 
would likely trigger bullish momentum, potentially opening the door toward the 
$170 level. However, the rising channel identified by analysts suggests a 
possible downside risk if the lower trendline fails. Related Reading: Litecoin 
Surges Past Descending Resistance – Bulls Target $97.10 Level If Solana breaks 
below the $145 support and falls out of the channel, the next target would be 
the $128.50 area, which previously acted as a demand zone in mid-May. Until 
then, bulls must defend current levels and aim to reclaim the 100-day SMA to 
maintain the broader recovery structure. The coming sessions may offer clarity 
as consolidation nears its resolution. Featured image from Dall-E, chart from 
TradingView

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Galaxy Digital warns Robinhood’s plan to tokenize stocks on its new chain 
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Singapore-based Amber International Holding Limited (Nasdaq: AMBR) has raised 
$25.5 million in a private placement to enhance its $100 million Crypto 
Ecosystem Reserve Strategy. Amber International Funds BTC, ETH, SOL Purchases 
with New Capital According to the announcement filed with the U.S. Securities 
and Exchange Commission (SEC), institutional investors, including CMAG Funds, 
Mile Green, Pantera […]