A recurring bottom signal for Solana’s SOL token has appeared on its weekly chart. The same pattern showed up in 2023 before SOL began a 1,604% rally and again in 2025 when the altcoin rose 142%.
SOL futures and spot data point to a slow pickup in activity, with price approaching a key weekly level that could reinforce a bullish bias. Crypto analyst WebTrend highlighted the weekly pattern of consecutive candles with long lower wicks, a structure that often indicates selling is being absorbed as buyers step in at lower prices.
“We are currently confirming a macro bottom setup with the same signal that successfully called the 2 most meaningful bottoms in the last 3 years.”
Trader Bluntz observed that Solana may have completed an accumulation phase after a strong daily breakout. That move aligns with an ascending triangle breakout—higher daily lows meeting flat resistance—with price now holding above $93.50, a level that previously acted as resistance. Based on the pattern, the next upside target is near $120, a level that served as support through much of 2024 and 2025. If reclaimed, it could form a base for further gains, with $145 the next potential target if momentum continues.
Market activity shows early recovery signs, though derivatives data suggest the rebound is still developing. SOL’s open interest has remained below $2.3 billion since the Feb. 6 price bottom, indicating traders are not aggressively adding leverage and implying caution rather than a broad-based rally. On the spot side, cumulative volume delta (CVD), which tracks net buying and selling, has stabilized over the past month, showing selling pressure has eased.
In futures markets, the CVD improved to -$2.8 billion from -$3.5 billion since Feb. 24, reflecting about a $700 million reduction in selling—suggesting bearish pressure is fading though strong buying demand has not fully returned. The aggregated funding rate has stayed neutral, meaning neither bullish nor bearish positions dominate.
Overall, the data point to a spot-driven recovery. The $120 level remains a key zone to watch for trader positioning and market sentiment and could determine whether the bullish setup evolves into a larger rally.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.