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As of March 26, SOL is trading around $143.85, having successfully breached the wedge’s upper trendline on March 19 and sustained gains in the days following.
The breakout has opened the door to a potential rally toward $235, a level projected by adding the wedge’s maximum height to the breakout point. This would mark a 65% increase from current levels, assuming bullish momentum continues.
Supporting the bullish case, Solana’s Relative Strength Index (RSI) has climbed above 50, indicating growing buying pressure.
However, the price is now approaching resistance at the 50-day exponential moving average (EMA), currently near $154. A confirmed breakout above this EMA would further strengthen the upward outlook.
If SOL fails to clear the EMA resistance and reverses lower, it risks invalidating the bullish setup and returning to the wedge’s previous range. Until then, the structure remains favorable for a continuation move to the upside.
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