Solana Price Forecast: Will SOL Reach $175?

Today, the Solana price surged over 20%, reaching intraday highs near $176 before cooling down slightly to around $172. Notably, on the weekly chart, SOL has reclaimed the 0.5 Fibonacci retracement level at $156. This area served as a mid-cycle support zone previously and now signals potential for further price movement towards the 0.382 Fib level at $189 — the next significant resistance barrier in Solana’s recovery journey. 4-hour chart analysis shows a clean bullish breakout from a multi-week triangle pattern, pushing past various horizontal resistance zones. This is marked by substantial buying activity that appears to absorb previous bearish pressure.