Solana appears to be gearing up for a major technical breakout, with recent price action building up an interesting chart formation. A familiar bullish pattern has formed, and if validated, it could drive the price to a level not seen in recent weeks. This new development was highlighted by popular analyst Titan of Crypto on social media platform X.

Pattern Breakout Sets $143 In Sight

Like every other large market-cap cryptocurrency, Solana has experienced an extended period of price crashes since late February. In the case of Solana, this price crash has been drawing out since January, when it reached an all-time high of $293 during the euphoria surrounding the Official Trump meme coin. Since then, Solana has corrected massively, even reaching a low of $97 on April 7. 

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The price action before and after this $97 low has created an interesting formation on the 4-hour candlestick timeframe chart. As crypto analyst Titan of Crypto noted, this formation is enough to send Solana back up to $143. 

At the heart of the latest bullish outlook is a clearly defined inverse head and shoulders structure, which is known for its reliability in signaling a reversal from a downtrend to a bullish breakout. The left shoulder of the pattern began forming in early April as Solana attempted to rebound from sub-$110 levels. The subsequent drop to the $96 bottom on April 7 formed the head of the structure. From there, a recovery started as buyers cautiously stepped back in, giving rise to the right shoulder.

The breakout of the neckline resistance has taken place in the past 24 hours. With this in mind, Titan of Crypto predicted that $143 becomes the next logical destination based on the measured move from the head to the neckline.

Image From X: Titan of Crypto

Momentum Strengthens With Structure Confirmation

Looking at the chart shared by the analyst, the momentum behind Solana’s price movement appears to be gaining strength. Trading volume is an important metric in evaluating the strength of a breakout, and the volume accompanying the recent breakout above the neckline seemingly confirms it.

Particularly, Solana has seen a 5.3% increase in its price during the past 24 hours, with trading volume surging by 3.76% within this timeframe to $4.21 billion.

Although it is common to see a throwback or minor consolidation just above the neckline, the projected path suggests continued upside as long as price action holds above that key breakout zone.

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At the time of writing, Solana is trading at $129, 10% away from reaching this inverse head-and-shoulder target. A move to $143 would not only represent a meaningful recovery from April’s lows but could also improve the confidence in Solana’s price trajectory moving into Q2. The next outlook is what happens after it reaches this target of $143, which will depend on the general market sentiment.  

Featured image from The Information, chart from TradingView

Crypto analyst El Crypto has raised the possibility of an altcoin season happening soon. The analyst alluded to Bitcoin’s dominance rising to a major rejection zone, which could be bullish for altcoins. 

Altcoin Season May Be Imminent As Dominance Hits Major Rejection Zone

In an X post, El Crypto suggested that the altcoin season may be imminent as Bitcoin’s dominance hits a major resistance zone. He revealed that BTC’s dominance again touched a zone that has led to rejection every time in the last one and a half years. He added that the Stochastic Relative Strength Index (RSI) is also in the overbought area, while a bearish cross has now happened again. 

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Based on this, the analyst remarked that the market looks to be in for some fun, hinting at an altcoin season. Crypto analyst CryptoElites also affirmed that Bitcoin’s dominance has reached its peak. He further affirmed that next up is a massive altcoin rally, which will usher in the alt season. 

In another X post, the crypto analyst alluded to the USDT and USDC dominance ratio. He claimed that the market was at a critical trend reaction point right now. CryptoElites then mentioned that if the stablecoins’ dominance breaks down, then the altcoin season will officially begin. 

Crypto analyst Kevin Capital also looked to provide a bullish outlook towards the altcoin season. In an X post, he highlighted the global liquidity index overlaid with the Dogecoin price. In line with this, he remarked that it might be time for market participants to start paying attention to this. 

So far, altcoins have been mirroring Bitcoin’s price action, suffering a similar downtrend amid the trade war. However, if the altcoin season were to kick into full gear, these altcoins could easily decouple from the flagship crypto and outperform. Ethereum is known to lead this altcoin season, but that may not be the case this time, as ETH has underperformed throughout this cycle. 

Still Bitcoin Season For Now

Blockchain Center data shows that it is still Bitcoin season for now, as the flagship crypto continues to outperform most altcoins. In the past 90 days, only seven out of the top 50 coins have outperformed the flagship crypto. These coins include Mantra, GateToken, Monero, LEO, Tron, and FastToken. 

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For it to be altcoin season, 75% of the top 50 coins would need to outperform Bitcoin over the last 90 days. Although almost all coins have witnessed declines within this timeframe, BTC has suffered a 22% drop, which is less than what these altcoins have seen during this period. 

At the time of writing, the Bitcoin price is trading at around $80,900, down over 1% in the last 24 hours, according to data from CoinMarketCap.

Featured image from iStock, chart from Tradingview.com

Sonic token has caught the eye of traders after a powerful bullish move from support. With price now consolidating under key resistance, the next breakout could be just around the corner—here’s what the chart is telling us.

Sonic (S) token has shown some serious momentum lately, catching the attention of traders with a powerful bullish engulfing candle. With price now grinding against key technical levels, the next few moves could be crucial in determining whether we see continuation—or signs of a reversal.

Key points:

• Strong bullish engulfing candle from the value area low and daily support at $0.39
• Price consolidating just under point of control, hinting at vertical accumulation
• $0.52 liquidity target aligns with 0.618 Fibonacci and VWAP resistance

The recent price action on Sonic Token has been notably impulsive, starting with a strong bullish engulfing candle that formed right at the value area low. This region also aligned perfectly with daily support around $0.39, giving the move significant technical weight.

The surge was accompanied by a rising volume profile, confirming buyer interest and demand at that level. Following the push, price now finds itself consolidating near the point of control—typically a sign that the market is building a base, not reversing.

Potential vertical accumulation

If Sonic continues to trade above the point of control, this could signal the presence of vertical accumulation. This kind of price action, characterized by higher lows on the lower time frame within a compact trading range, often leads to further bullish continuation.

One critical area to watch is the resting liquidity around $0.52. This level stands out as an untapped high and a magnet for price, especially with the 0.618 Fibonacci level and VWAP resistance stacked just above it.

Reaching that $0.52 region makes both technical and psychological sense. The theory of liquidity suggests that markets seek out areas of uncollected orders. Once price had taken the lower-side liquidity and bounced hard, the next logical move is to target the highs.

That target also lines up with the value area high of the current range, meaning a tap of that level would complete a full range rotation from low to high. If Sonic starts distributing around that resistance area, that could mark the start of a longer consolidation phase.

Right now, the chart is still showing signs of strength. There are no clear signals of weakness, and vertical accumulation patterns tend to continue until exhaustion. While it’s smart to be cautious near resistance, prematurely shorting Sonic without a clear rejection could be risky. For now, the bulls are in control—and the $0.52 target remains in play until proven otherwise.