Technical analysis by The_Alchemist_Trader_ about Symbol SOL on 6/11/2025

Solana (SOL) has posted an impressive 17% rally from the $143 region, which held firmly as a high-confluence support zone. This level aligned with the 0.618 Fibonacci retracement and the weekly support, leading to a strong bullish reaction.Price is now approaching a significant resistance zone near $176, where multiple technical levels converge:The point of control from the recent volume profileThe 0.618 Fibonacci retracement from the previous swing highA critical daily support-turned-resistance levelThis area presents a key inflection point for Solana’s trend. A clean breakout above $176 could confirm continuation of the bullish move and likely open up a push toward higher resistance targets. However, if Solana rejects this zone, it could simply result in a healthy pullback to form a higher low—a typical structure within an uptrend.That said, failure to hold a higher low and loss of momentum may bring price back into the broader range between $143 and $176, which has acted as a containment zone on the high time frame.How Solana reacts at this level in the coming sessions will be critical for determining whether this is just a short-term rally or the start of a larger bullish expansion.Key Levels to Watch:Support: $143Resistance: $176Breakout Confirmation: Close above $176 with strong volume