Solana (SOL) is showing signs of a potential breakout on the 15-minute chart, as price action contracts into a tighter range. This volatility squeeze precedes a significant move, with market participants awaiting confirmation of direction. The consolidation phase has formed a recognizable breakout structure, with highs and lows converging, suggesting that pressure is building beneath the surface.

Breakout Structure Taking Shape On Lower Timeframe

According to Andrew Davis’s post on X, Solana experienced a sharp sell-off that briefly pushed the price below $142. However, the cryptocurrency quickly bounced back, demonstrating strong buying interest and resilience. 

SOL has climbed back above the $150 mark, showing signs of building strength and momentum. This recovery suggests that the market is absorbing selling pressure. If this upward momentum continues, SOL could be poised for further gains. 

Crypto analyst Gemxbt noted that Solana exhibits a descending triangle pattern on the 1-hour chart, which is typically regarded as a bearish continuation signal. A descending triangle pattern has formed as the price creates lower highs while holding a relatively flat support zone at $145, a key level that has been defended multiple times.

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Author: Godspower Owie

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