Introduction
Solana has once again found itself in familiar territory, brushing up against that stubborn $145 resistance. But here’s the twist: this isn’t just any resistance. It’s a convergence point of two major technical patterns, the top of a descending channel and the neckline of a bearish head-and-shoulders. Think of it as a double boss fight in the world of crypto trading.
Despite a solid 14% gain over the past week, SOL’s current rally isn’t being celebrated with champagne and fireworks. Why? Because trading volume is down 15% in the past 24 hours. That’s like everyone showing up to a party but just standing around awkwardly by the punch bowl. Investors are watching, waiting, and wondering, will Solana break free or crash back down?
Two Bearish Patterns, One Bullish Opportunity For Solana
Let’s break down the technical drama. Solana’s price is currently dancing within a descending channel and recently dipped below the neckline of a head-and-shoulders setup, both typically bearish signs. Historically, every time SOL kissed the upper channel, it got rejected harder than a bad pickup line in a nightclub.
That said, the stakes are higher this time. A strong daily candle closing above $148 could be the breakthrough bulls have been praying for. And if it happens, analysts believe SOL could soar as high as $184, a 20% leap that would make recent gains look like the warm-up.
Yet, the indicators still flash caution. The RSI sits at a meh-worthy 46, and SOL remains below the 50-day EMA. Translation? The bulls are here, but they haven’t taken over the dance floor yet.
Whales, W-Shapes, and Warnings from the Charts
Adding more flavor to the mix, one popular crypto analyst on X believes SOL might be cooking up a bullish “W” pattern, a classic signal of recovery. According to their take, a rebound from $125.99 could send the token toward the $150–$160 zone if the pattern plays out.
$SOL Setting Up For a Major Bounce?$SOL is showing signs of recovery after hitting the major low at $125.99. A potential W-shaped pattern is forming again, hinting at a bullish reversal toward the $150–160 zone.#SOL #Tradingview pic.twitter.com/txgyHO4ihs
— BitGuru 🔶 (@bitgu_ru) June 27, 2025
Sounds exciting, right? But not everyone’s buying the hype. Some investors seem to be hedging their bets, or outright bailing. Data from CoinGlass shows over $21 million worth of SOL flooding into centralized exchanges within the last day. That kind of movement usually whispers one thing: sell-off incoming.
Will Solana Break Free or Break Down?
Right now, Solana is at a cliff’s edge. The indicators point both ways, the community is split, and even the charts seem unsure whether to cheer or cry. If bulls can force a breakout above $148 and keep volume up, we might finally see a sustained rally.
But if sell pressure continues, especially with whales pushing tokens to exchanges, another rejection could be right around the corner. Whether you’re bullish or bearish, one thing is certain: SOL is about to show its hand, and the entire market is watching closely.
