Solana (SOL) Retests Key Breakout Zone as Meme Coin Presales Gain Traction

Solana is once again the focus as traders observe its next move after a strong comeback from recent lows.

Solana is once again the focus as traders observe its next move after a strong comeback from recent lows. While new projects proliferate in the broader crypto market, meme coin presales are garnering more interest, with PepeX captivating investors.

Solana’s price action keeps investors pondering, thus setting the scene for a vibrant competition between established players and emerging tokens.

Solana’s Technical Outlook

Currently, Solana has a market cap of $64.57 billion and is traded at roughly $124. Over 24 hours, trading volume has been around $3.35 billion. This implies that even if the price stays range-bound, buyers are filling in following a recent dip.

On social media, traders are monitoring Solana’s retest of a crucial breakout zone. Keeping in mind a right-angled ascending expanding pattern, analyst Ali Martinez considers the $65 retrace objective. Solana’s strong ecosystem and busy trading still inspire speculation despite the correction from January’s $294 high. However, the bullish price range remains at the $120 to $135 range, as everyone awaits a definitive move.

For all we know, #Solana $SOL might be retesting the breakout zone from a right-angled ascending broadening pattern, with the $65 target still in play. pic.twitter.com/vujFJQWurz

PepeX and Meme Coin Presales Momentum

As meme coin presales grab headlines, PepeX is rapidly becoming the focus for those seeking the next big opportunity. Launched on March 24, 2025, PepeX has raised over $1.25 million in its presale despite a sluggish crypto market. The token price is also increasing to $0.0281 in stage 8. Early investors are eyeing up to 311% potential returns when the presale sells out, when the coin lists at $0.085. This is sparking a rush to obtain allocations before the next price surge.

This post is for informational purposes and does not constitute investment advice.

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PepeX presale quickly raises $1.25+ million as interest in meme coin presales soars

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As Solana (CRYPTO: SOL) faces a crucial retest of a breakout zone, marking a potential continuation of its strong rebound from recent lows, attention turns to the potential for a $65 price target to be reached.

What Happened: Solana is testing the breakout of a right-angled ascending expanding pattern, setting the stage for a continuation towards the $65 retracement object, according to technical analysis by crypto analyst Ali Martinez.

This pattern emerges as Solana rebounds from the recent lows of around $90, showcasing a strong recovery from the lows hit in December 2024.

The pattern, visualized in a recent X post by Martinez, highlights three common tangents, with the third one being breached recently. A move towards the $65 level would complete the expanding pattern’s diagonal and provide a 1:1 Fibonacci retracement from the pattern’s high and low.

Martinez notes that Solana’s technical indicator readings are still in the positive territory, despite the correction from January’s highs of $294. The cryptocurrency is currently trading within a bullish price range of $120 to $135.

Solana is currently trading at $123.27, showing a 24-hour volume of $3,346,833,388 and a market capitalization of $64.18 billion.

Solana Technical Levels: Awaiting Final Node

The final node of the expanding pattern occurs at around $65, which is the Fib 0.5 level. A move towards this level would complete the pattern’s diagonal and provide a 1:1 Fibonacci retracement from the pattern’s high and low.

This pattern is common in technical analysis and can be used to identify potential price movements in the future.

The pattern is also compatible with the Fibonacci sequence, which is a series of numbers in which each number is the sum of the two preceding numbers. For example, the Fibonacci sequence is 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, and so on.

The Fibonacci sequence can be used to identify potential support and resistance levels in a market. For example, the Fib 0.382 level is a common support level, while the