Date: Tue, July 22, 2025 | 06:10 AM GMT
The cryptocurrency market is taking a breather today after a strong multi-day rally, with Ethereum (ETH) slipping over 2% following a 24% gain over the last week. While most major altcoins are cooling off, Solana (SOL) continues to defy the pullback, signaling more upside ahead.
SOL has climbed 4% in the last 24 hours, maintaining its monthly advance at 4%. More importantly, a textbook harmonic ABCD pattern is forming on the daily chart, suggesting that the current uptrend might still have legs.
Harmonic Pattern Hints at Bullish Continuation
On the daily timeframe, SOL is forming a Bearish ABCD harmonic pattern which, despite its name, typically signals bullish continuation during the CD leg. The pattern began in April from point A at $95.26, followed by a rally to point B, then a pullback to point C near $126.29 in late June.
Since establishing point C, Solana has reversed strongly, climbing to around $196.72. If the ABCD pattern plays out fully, the final leg — from point C to point D — could see the price head toward the 1.50 Fibonacci extension, aligning with a target near $218.43.
What’s Next for SOL?
If this bullish setup unfolds as expected, Solana could gain another 11%, reaching the Potential Reversal Zone (PRZ) at $218.43 — a region that mirrors the AB leg in length, according to harmonic theory. This area may act as final resistance, where some traders might begin to lock in profits.
To confirm the pattern, SOL must continue holding above the 200-day moving average, currently around $163.51, which now acts as a key support level. A sustained move above this line would reinforce bullish momentum and help validate the ongoing harmonic structure.
With broader crypto sentiment still favoring the upside and SOL forming a well-defined harmonic pattern, this altcoin remains one of the top technical setups to watch in the coming sessions.
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