Can Solana Smash Through $140 and Ignite a Parabolic Run? The Charts Hint at an Explosive Move

Solana (SOL) is the best-performing token in the top 5 in terms of weekly gains as it has delivered a 4.4% positive return to investors during this period, aided by the rising popularity of a handful of meme coins.

Tokens like Fartcoin (FART) and Popcat (POPCAT) attracted significant trading volumes to Solana’s decentralized exchanges last week as they managed to defy the market’s downturn and delivered double-digit and even triple-digit returns in a short period.

DEXs like Orca and Raydium have seen their trading activity go up lately as President Donald Trump’s decision to pause the implementation of tariffs lured traders back into the market as volatility eased.

This temporary tailwind has managed to propel the price above the $140 level briefly.

The popular crypto trader Ali Martinez shared on X an interesting chart that showed two key areas to watch for Solana (SOL) during the week.

The most relevant support based on where the strongest buying pressure has been spotted currently stands at $129. Hence, a break below this marker could result in a trend reversal for SOL in the near term.

Meanwhile, Ali highlighted that the $144 level is key to bulls as a push above this price zone will likely result in an explosive move.

Solana Breaks Out of Falling Wedge Pattern as Bullish Momentum Builds

Solana has broken out of a falling wedge pattern on the 12-hour chart – a classic bullish reversal setup – suggesting that a strong upside move may be underway.

The breakout follows a sustained period of higher lows and tightening price action, with SOL now trading near $139.50 after reclaiming key territory.

Momentum indicators support the bullish thesis: the RSI is holding at 61.9 and trending higher, while the MACD histogram continues to print green, indicating growing strength behind the move.

If SOL maintains this momentum, the next key resistance sits around $150. A clean break above this level could open the door to a swift rally toward $175 and beyond.

As Solana’s price structure turns bullish, its ecosystem continues to heat up – with meme coins like Fartcoin (FART) drawing fresh attention and surging trading volumes.

To tackle the congestion issues Solana has faced in the past, a new layer-two scaling solution called Solaxy (SOLX) is preparing for launch.