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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/sol-price-analysis-heres-the-breakout-that-can-boost-sol-price-to-35/">SOL Price Analysis: Here’s The Breakout That Can Boost SOL Price To $35!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Trapped in a descending channel, Solana coin price challenges the resistance trendline with the recent bull cycle. The bull run exceeds the $25 mark but struggles to break above the overhead resistance trendline.&nbsp; 
Anticipation of a breakout rally‘s high due to the recent bullish reversal from the 200 EMA with the spike in the trading volume.&nbsp; Moreover, the Morning Star pattern in the daily chart projects a high possibility of a prolonged uptrend. 
On a Sidenote, the 50 and 200-day EMAs prepare a golden crossover to boost the buying spree. 
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As per the Fibonacci retracement, the bullish recovery from the 38.2% level retests the 61.8% level. If the SOL prices manage to sustain above $25 or the 61.8% Fib level, the channel breakout will be imminent.&nbsp; 
However, the current retracement comes as a retest of the rounding bottom breakout within the channel. Therefore, a post-retest reversal can lead to a channel breakout rally.&nbsp; 
Also Read : <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Solana Price Prediction 2023, 2024, 2025: Will SOL Price Cross $30 Mark This Week?</a> 
Coming to the volumes, rounding bottom breakout found a significant spike but the retracement lacks notable volume. Thus, increasing the chances of a prolonged uptrend.&nbsp; 
The potential channel breakout rally can boost the SOL coin price to challenge the $28.94 swing high. On an optimistic note, a surge in buying spree bringing a $28.94 breakout can lead Solana prices to $35.42. 
On the flip side, a rejection driving SOL price below $25 can prove catastrophic. A failed retest can drive the SOL coin price to test the support of $23.

SOL Price Analysis: Here’s The Breakout That Can Boost SOL Price To $35!

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