Solana (SOL) is approaching a critical resistance zone between $261 and $296, which could trigger a cup-and-handle breakout. Currently trading at $235, SOL's Relative Strength Index (RSI) stands at 67.29, suggesting a potential pullback to $210–$220 before a possible upward move.
Institutional interest remains robust, with Galaxy Digital acquiring $1.55 billion in SOL over the past five days. On-chain metrics reveal a Total Value Locked (TVL) of $13.22 billion and stablecoin inflows of $255 million in the last 24 hours, underscoring Solana's ecosystem expansion. Analysts predict a breakout could occur as early as next week, potentially driving SOL towards $500 if it surpasses the resistance zone.
Solana Eyes Breakout as Key Resistance Zone Approaches
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