Technical analysis by TotoshkaTrades about Symbol SOL: Buy recommendation (8/5/2025)

On the daily chart, SOLUSDT is forming a bullish continuation structure. After the Golden Cross (MA50 crossing MA200), the price is now pulling back toward the midline of the ascending channel and the 0.5 Fibonacci level at 166.38. This confluence with the broken trendline and 200 EMA makes this zone a prime technical area of interest. Support: 166.38 (0.5 Fibo), EMA200 (161.77), broken trendline Resistance: 182.84–189.67 (Fibo 0.705–0.79), 206.54, target - 255.93 (Fibo 1.618) This retracement looks healthy, supported by higher volume during the prior bullish leg. As long as the 166.38–161.77 zone holds, continuation toward 206.54 and potentially 255.93 is on the table. Fundamentally, Solana remains a key L1 narrative with strong traction in DePIN and AI-linked dApps. The rising TVL and investor sentiment support the trend. Watch price action around 166 for confirmation - this is the battleground.