Solana (SOL) has entered 2026 with a decisive technical breakout, shattering a four-month descending resistance trendline that had been in place since mid-2025 highs near $200. The cryptocurrency successfully reclaimed the $134 level in early January, marking a significant shift in its weekly price structure for the first time since its correction began.
Technical analysts point to multiple bullish signals across various timeframes. The breakout was accompanied by rising volume, with weekly candles indicating buyers are regaining control after staunchly defending the crucial $115 support zone. Key horizontal resistance levels are now identified at $144 and $150, areas that have previously capped upward momentum.
Intraday analysis, particularly on the four-hour SOL perpetual futures chart, shows constructive price behavior. SOL rebounded sharply from $115 and has stabilized above $130, challenging the former trendline. Analysts note that the ability for SOL to hold above $134 on a daily close is viewed as critical confirmation; such a close would signal acceptance above resistance and unlock a measured move toward the $150 target zone. Failure to maintain this level could lead to renewed consolidation near $125.
Market sentiment has flipped decisively bullish, aligning retail optimism with strong "smart money" conviction. This shift is backed by a substantial $10.43 million net inflow into U.S. spot Solana ETFs in a single day, pushing total Assets Under Management (AUM) above $1.02 billion. Furthermore, a net outflow of $4.17 million worth of SOL from exchanges suggests quiet accumulation by investors moving assets into long-term cold storage, a sign of strong holder conviction.
Derivatives data reinforces the bullish structure, with the long/short ratio on Binance reaching 72.6%. The overall sentiment, as tracked by Market Prophit, is now bullish for both crowd and market profit indicators. While the technical and sentiment backdrop is constructive, analysts emphasize that definitive confirmation of a durable trend reversal depends on SOL's ability to break above the midpoint of its current descending channel and conquer the $144-$150 resistance wall.
