Solana (SOL) Nears Final Barriers to All-Time High: Price Analysis
The post Solana (SOL) Nears Final Barriers to All-Time High: Price Analysis appeared on BitcoinEthereumNews.com.
Solana (SOL) is in cruise mode as it heads towards what could be the last two barriers before getting back to its all-time high of $295. Will the $SOL bulls push it over these obstacles? How is $SOL performing against $ETH and $BTC? $SOL hits first of the big obstacles Source: TradingView The daily chart for $SOL shows how the price has been traversing up inside a wedge pattern since early April of this year. That was the local bottom of just under $100, and from there it has been a nice gradual ascent. Today the price is up against the $219 resistance, while only just above this is the top of the wedge. This is the first combined obstacle that the bulls must overcome. If there is a rejection from here, the major support level at $202 isn’t that far below, and would potentially enable a reset of the momentum indicators. $252 major resistance is second big obstacle Source: TradingView The weekly chart puts things more into perspective for the $SOL price. The 50-week SMA (blue line) served as major support for $SOL from the start of the huge ascension in October 2023 through to the all-time high early in 2025. After that, the price crashed down through the 50-week SMA but has now gained above it once again. The second of the two obstacles that are left for $SOL is the big resistance at $252. This level has rejected three major rallies so far, and so the $SOL bulls will be hoping fourth time lucky. $SOL now turning the tables on $ETH Source: TradingView Against its $ETH pair (SOL/ETH) $SOL is now starting to turn the tables. A beautiful touch of the 0.618 Fibonacci marked the spot where $SOL began to take control again. A descending wedge that…
Filed under: News - @ September 9, 2025 11:32 pm