Solana Eyes 26% Breakout as It Tests 0.00162 BTC Resistance and Holds Key Support

On the daily SOL/BTC chart, Solana has created a positive inverse head-and-shoulders pattern that suggests a possible bullish reversal. The current price is 0.001588 BTC, which is barely below the neckline of 0.00162 BTC. The sentiment of the larger crypto market supports the potential for a breakout, although technical signs indicate decreasing negative momentum. After defending key SOL price support levels near $143 and $150, Solana’s structure points to a measured move toward 0.00195 BTC if resistance is cleared. Traders now await confirmation that could solidify Solana’s position in the next market rally cycle.

Solana’s iHS Pattern Targets Major Gains in Late May

Veteran analyst Josh Olszewicz highlighted a developing inverse head-and-shoulders (iHS) formation in the SOL/BTC pair. The setup started in early March and now approaches its neckline near 0.00162 BTC. A successful breakout from this level could send Solana up to 0.00195 BTC, marking a nearly 26% gain against Bitcoin. This potential surge aligns with the broader SOL bullish trend forming in the crypto market. The daily chart shows increased compression between the Tenkan-sen and Kijun-sen, supporting near-term upward movement. If SOL breaks out by late May, it would confirm a reversal from the winter’s bearish price action.

1D SOL/BTC

iHS +E2E at some point but not soon, prob late May pic.twitter.com/Qrxzntjsja

— #333kByJuly2025 (@CarpeNoctom) April 27, 2025

SOL Chart Structure Supports Breakout Scenario Toward $205

The Ichimoku Cloud configuration on the daily SOL/BTC chart is laying the groundwork for a potential bullish move, despite the cloud itself remaining bearish. The Tenkan-sen currently sits at 0.00150 BTC, acting as a short-term support, while the neckline resistance aligns perfectly with the Kijun-sen at 0.00162 BTC. Above this, Senkou Span A is located at 0.001742 BTC, and Senkou Span B stands even higher at 0.002159 BTC. These levels create a strong visual target for bulls if the price manages to break through the neckline resistance.

The narrowing gap between the cloud spans indicates diminishing bearish momentum, which may open the door for a classic edge-to-edge trade setup. Should Solana break decisively above the neckline, the projected upside target would be 0.00195 BTC, equivalent to roughly $205. However, failure to secure that breakout could lead to a retest of the SOL price support levels around $143 to $150, which remain critical to maintain the bullish trend.

Analyst Notes Late-May as Key Timeline for Solana Breakout

Olszewicz notes that while the setup is bullish, the price remains under key resistance levels. A premature breakout attempt risks rejection and another dip toward the right shoulder at 0.00151 BTC. Importantly, the Kumo cloud does not thin significantly until the last week of May, giving time for a more structured move. As the Chikou Span remains beneath the price and cloud, trend confirmation is still pending. However, if Solana maintains the current structure, a move into the bullish Kumo territory would activate momentum for a sustained SOL price rally. Traders are watching closely for confirmation this month.

What’s Next: Will SOL Price Support Hold for a Late-May Breakout?

The critical focus for Solana is whether the SOL price support between $143 and $150 can sustain upcoming resistance tests. With the SOL bullish trend gaining traction and signs pointing toward a larger Solana price rally, market sentiment remains cautiously optimistic. A failure to break 0.00162 BTC could see SOL revisit support before any rally. The question is: will Solana confirm the bullish setup? For now, SOL price support zones must hold, and volume must increase. If those align, the breakout could be imminent, paving the way for a bullish SOL price rally later in May.