Date: Mon, May 26, 2025 | 09:25 AM GMT
The cryptocurrency market has started the week with strong upside momentum following a brief pullback over the weekend. As Bitcoin (BTC) and Ethereum (ETH) trade in the green, they are helping lift altcoins across the board.
One altcoin showing signs of recovery is Solana (SOL), which has gained over 3% today and extended its monthly gains to 18%. A developing technical pattern now suggests that SOL may have more room to rise in the near term.
Harmonic Pattern Signals More Upside
On the 1-hour chart, Solana is forming a Bearish Cypher harmonic pattern. This pattern is often used by traders to identify potential reversal zones after the final leg, known as CD, is completed. Until that happens, prices often continue trending higher, supported by bullish momentum.
The pattern began forming on May 23 when SOL reached a short-term top at $187.52, marked as point X, before undergoing a sharp correction. The price dropped more than 9%, finding support near $169 on May 25, identified as point C.
Since hitting that low, Solana has rebounded and is now in the process of forming the CD leg of the pattern. If this plays out according to harmonic theory, the price could move toward the D point at around $183.60, which corresponds to the 78.6% Fibonacci retracement of the XC leg. From the current trading level near $177.50, this suggests a potential upside of around 3.43%.
What’s Next for SOL?
The region around $183.60 will be a key zone to watch. According to the principles of harmonic trading, this area often acts as a reversal zone where sellers may re-enter the market. However, if Solana manages to break through this level with strong volume and momentum, the rally could extend further, targeting a full recovery to $187.52 — the recent swing high. That move would represent a gain of about 5.60% from current prices.
On the other hand, if SOL struggles to break above the $183.60 level, it may signal that bullish momentum is weakening. In that case, the token could consolidate or face some light profit-taking before making another attempt to move higher.
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