Date: Wed, Aug 13, 2025 | 12:35 PM GMT
The cryptocurrency market is in full bullish swing as Ethereum (ETH) broke above the $4,700 mark for the first time since 2021. This 30% weekly surge has boosted sentiment across major altcoins, including Solana (SOL).
SOL has jumped 14% today, extending its weekly gains to 23%. More importantly, its latest chart now reveals a key harmonic setup that could point toward more upside in the near term.
Harmonic Pattern Hints at Potential Bounce
On the daily chart, SOL is forming a Bearish ABCD harmonic pattern — a structure that, despite its name, often features a bullish CD-leg before reaching the final Potential Reversal Zone (PRZ).
The move began with a rally from Point A near $145.35 to Point B, followed by a retracement to Point C around $155.91, where buyers stepped back in. Since then, SOL has climbed to around $202, showing that the CD leg is well underway.
If the pattern plays out according to the traditional ABCD framework, the CD leg could extend to the 1.20 Fibonacci projection of the BC leg, putting the PRZ around $216.56 — about 7% higher from current prices.
What’s Next for SOL?
If bullish momentum holds, SOL could continue toward the $216.56 zone. However, this level is likely to act as a major resistance area, where profit-taking or short-term pullbacks may occur. Before reaching the target, traders should not ignore the possibility of a retracement toward lower-edge support.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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