Solana Forms Double Bottom: Will SOL Price Reach $165 This Week?
The post Solana Forms Double Bottom: Will SOL Price Reach $165 This Week? appeared on BitcoinEthereumNews.com.
Solana is showing signs of structural stabilization after forming a double-bottom pattern — one of the market’s most closely watched bullish reversal signals. With the pattern confirmed at the $130 support zone and price now pressing against the $148–$150 neckline, traders are assessing whether SOL has enough momentum to break higher or if resistance will halt the advance. This content is delivered by Outset PR, where crypto-native communication meets data-driven intelligence. Outset PR equips web3 projects with the tools to shape conversations, seize moments of opportunity, and drive sustained market relevance. Double Bottom Structure Strengthens Bullish Case Source: coinmarketcap SOL has printed two clear lows near $130, forming a classic double-bottom reversal structure. The critical breakout region now sits between $148 and $150, serving as the neckline that must be cleared for the pattern to confirm. Short-term momentum is leaning bullish: The MACD histogram at +2.43 shows accelerating positive momentum. RSI at 49.87 remains neutral, providing ample room for continuation before overbought signals appear. Together, these indicators suggest SOL may be preparing for a stronger move upward — provided resistance doesn’t cap the breakout. Upside Scenario: A Move Toward $165 A decisive daily close above $150 would validate the breakout and trigger momentum-driven flows. This could send Solana toward the $165 target, representing an estimated 21% upside from the neckline. Analysts note that recent improvements in network activity and liquidity depth could amplify any bullish follow-through, especially with traders increasingly willing to rotate back into high-beta altcoins during recovery phases. Downside Risk: Failure to Break Could Send SOL Lower If SOL fails to reclaim the neckline, a pullback to the $132–$137 zone is likely. Traders have highlighted this region as a bullish buffer, with consistent accumulation signals emerging on order books and volume…
