Solana Breaks Year-Long Downtrend as Bulls Eye $236

Solana’s breakout above its year-long downtrend signals renewed bullish momentum as traders now watch for the critical $236 resistance.

Strong rebounds from $125 to $150 support zones highlight consistent investor demand, keeping Solana’s trading range between $200 and $250 alive.

Analysts see $236 as the next upside target for Solana while warning that a sustained drop below $215 could shift the market trend.

Solana has sparked market attention after breaking below a long-term downtrend but swiftly turning it into support in early October. According to Rekt Capital, the move marks a pivotal shift as SOL repositions above critical technical levels

The token now trades at $232.21, reflecting resilience after months of volatility and corrections. Traders argue that the fresh breakout could determine Solana’s next major trend direction.The breakout follows a turbulent yet rewarding journey for Solana investors.

The coin started 2023 at around $10 to $25 and steadied for several months before making a sharp increase. SOL surged, surpassing $100 by the beginning of 2024 and hitting $200 by the middle of the year.

Source: Rekt Capital

One notable increase, occurred between August and November 2024, also saw prices rise to $265. This level has since been a strong resistance zone that has stopped multiple rallies.

Technical Structure and Market Behavior

Solana had corrective phases after peaking, then continuously recovered from strong support between $125 and $150. Additionally, early in 2025, bullish sentiment returned with another spike into the $250 range

The declining trendline that connected significant highs and generated ongoing selling pressure developed. The current candles now suggest consolidation between $200 and $250.

There were significant trading volumes during rallies, signaling strong market participation. Additionally, repeated rebounds from support zones confirm investor demand at lower prices. The current consolidation remains crucial, as a decisive breakout could either extend the bullish rally or confirm downside risks.

Market strategist Man of Bitcoin noted that Solana already broke above the 100% Fibonacci extension. He stated, “The next upside target is $236, while a sustained break below $215 would be the first indication that the pattern is shifting to the downside.” This view reinforces the current price levels, as both traders and long-term investors monitor closely.

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