SOL just pulled a classic falling wedge breakout and pumped 50% from $100 to $150, making bears cry.

The TA crowd is throwing around targets like $205, $263, and even $296.

Does this rally have legs, or is it just another fakeout?

The Wedge Pattern That Worked

Crypto analyst Lucky spotted the falling wedge that had SOL compressed since late 2024.

The breakout above $100 lit the fuse, sending shorts running and SOL flying past $150.

Double-bottom formation closed above $147 – now flipped to support like magic.

The MACD crossed into positive territory for the first time in weeks, sparking excitement among momentum traders.

Bears Got Absolutely Wrecked

Over $20 million in shorts got liquidated as SOL broke out – that's what happens when you bet against memecoins.

The short squeeze created a feedback loop as underwater bears had to buy back in.

The RSI is climbing but still has room to go before hitting overbought, meaning more pain for shorts potentially incoming.

Meme Coins Gone Wild

Solana's memecoin ecosystem is having a moment, with BONK doubling in April alone.

WIF and TRUMP posting 20-60% weekly gains, as if it were 2021 all over again.

The total memecoin market cap on Solana has reached $10 billion, attracting degens by the thousands.

Raydium and Orca processed $17 billion in volume in seven days – that's some serious degeneracy.

The On-Chain Numbers Don't Lie

TVL reached $4.9 billion as of April 25th, with some sources claiming it hit $13 billion in March.

DEX volumes smashed $2.94 billion in just 48 hours as traders ape into everything.

Active addresses jumped to 3.1 million – actual users, not just bots this time.

The stablecoin market cap on Solana reached a record $13.1 billion – dry powder waiting to be deployed.

The Price Targets In Play

We have several touchpoints for you to consider – $180 is the first boss level – clearing this validates the double-bottom breakout.

Then, $205 is the previous resistance that rejected SOL multiple times.

A significant gap after that means $263, which represents the upper range from previous rally attempts.

And of course, $296 is the moonshot target – macro top and ultimate bull goal.

It Could All Go Wrong

The RSI is getting heated, so a pullback to $150-$ 160 wouldn't be surprising.

Legal drama in Solana's DeFi sector could spook investors and cool this whole thing off.

High liquidity zones around $150-160 might act like magnets pulling the price back down.

The broader crypto market could dump and drag SOL down with it.

The Solana Cycle?

The setup appears immensely bullish, with a wedge breakout, short liquidations, and an ecosystem pumping.

$296 is ambitious but not impossible if everything aligns perfectly.

Just don't leverage your life savings – this is still crypto, not a guaranteed money printer.

Watch those support levels at $147 and $120-130 for signs of strength or weakness.