{"id":26937,"date":"2026-04-28T13:20:55","date_gmt":"2026-04-28T13:20:55","guid":{"rendered":"https:\/\/bitunikey.com\/news\/will-solana-price-rebound-as-it-breaks-multi-year-bearish-channel\/"},"modified":"2026-04-28T13:21:04","modified_gmt":"2026-04-28T13:21:04","slug":"will-solana-price-rebound-as-it-breaks-multi-year-bearish-channel","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/will-solana-price-rebound-as-it-breaks-multi-year-bearish-channel\/","title":{"rendered":"Will Solana price rebound as it breaks multi-year bearish channel?"},"content":{"rendered":"
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Solana price has been consolidating within the $75-$100 range since early February this year. Now, a confirmed breakout from a descending parallel channel puts the asset in a position to challenge higher resistance levels after months of sideways movement.<\/p>\n

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\n Summary<\/span>\n <\/div>\n
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    \n
  • Solana price fell nearly 8% from $90.3 to $83 amid profit taking and macro uncertainty, down about 33% year-to-date despite holding a $75\u2013$100 range since February.<\/li>\n
  • A breakout from a multi-year descending parallel channel signals a potential trend shift, with upside targets projected near $155.<\/li>\n
  • Short-term indicators remain cautious, with a bearish MACD crossover and red supertrend, while an $8M institutional-backed share sale supports the bullish outlook.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    After climbing to a month high of $90.3 on April 17, Solana (SOL) price fell nearly 8% to $83 amid profit taking by investors and a broader rotation away from risk assets amid concerns over stalled U.S.-Iran peace negotiations and rising oil prices. The 7th largest token has fallen nearly 33% so far since the beginning of this year.\u00a0<\/p>\n

    Despite this significant drop, its charts have now flashed a bullish signal for the medium term.\u00a0<\/p>\n

    On the daily chart, Solana price has broken out of a multi-year descending parallel channel from mid-September last year. A breakout from such a pattern has historically led to a shift in market sentiment from bears back to bulls.\u00a0<\/p>\n

    Solana price has broken out of a descending parallel channel pattern on the daily chart \u2014 April 28 | Source: crypto.news<\/figcaption><\/figure>\n

    <\/p>\n

    In Solana\u2019s case, the breakout positions Solana for a steady upside in the coming weeks with a potential rally to as high as $155, a level calculated by adding the height of the channel to the point of breakout.<\/p>\n

    However, other technical indicators suggest some caution ahead of the next leg higher. Notably, the supertrend has flipped red, which means the immediate short-term trend remains under selling pressure.<\/p>\n

    At the same time, the MACD lines have formed a bearish crossover, which has often been the precursor to further consolidation before a sustained move upward.<\/p>\n

    Meanwhile, a major bullish catalyst for the ecosystem is that Solana Company recently raised $8 million through a share sale to global institutional investors like Mirae Asset and HashKey Capital.<\/p>\n

    The development allows the digital asset treasury to significantly expand its holdings by purchasing additional SOL tokens directly from the market, providing a solid foundation of institutional demand.<\/p>\n

    <\/p>\n

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    \n Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. <\/p>\n<\/p><\/div>\n

    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

    Solana price has been consolidating within the $75-$100 range since early February this year. Now, a confirmed breakout from a descending parallel channel puts the asset in a position to…<\/p>\n","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=26937"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26937\/revisions"}],"predecessor-version":[{"id":26938,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26937\/revisions\/26938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=26937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=26937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=26937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}