Solana (SOL) is facing a crucial juncture in the crypto market, with its price hovering near the $370 resistance level. Technical analysts are eyeing potential breakout signals as well as support zones for investors to navigate potential volatility. 🔍 📈 📉 A recent chart analysis on Twitter by @Morecryptoonl highlights a potential wedge pattern on SOL/USD, showing increased buying pressure if price breaks through the upper boundary of the wedge. This comes after a 6.08% drop in price, currently trading at $215.38. However, some are skeptical. @DiegoKat09 suggests the wedge might signal a correction phase based on Elliott Wave theory, urging traders to exercise caution. The wider Solana ecosystem’s high-speed blockchain and thriving DeFi environment support the bullish outlook, particularly with institutional investors like Pantera Capital backing the project. 🤝 Traders are advised to watch price movement and volume indicators for further confirmation of this potential breakout. Whether it’s a pump or pause, Solana will remain a focal point in the crypto market.