SOL Forms Double Bottom as Price Holds Above $140 Support

⬤ Solana (SOL) just shifted into a new phase after a solid rebound that changed the short-term picture. The 4-hour chart reveals SOL breaking out from extended sideways action, carving out a clean double bottom before pushing higher. This move flipped the script—price reclaimed and is now holding above an important support zone that used to cap rallies as resistance.

⬤ The chart shows SOL spent multiple sessions stuck in a tight range before catching a bid near the lower edge around the mid-$120s. From that base, price bounced hard, creating a bullish structure with higher lows stacking up. The double bottom took shape during this recovery, showing persistent buying interest and cutting off any deeper pullbacks. That pattern led to follow-through that pushed SOL into the mid-$140s.

⬤ After the run-up, SOL settled into consolidation above the reclaimed support. Right now, price is coiling between $140 and $145 with no heavy selling showing up. This suggests the market’s digesting recent gains instead of rolling over. As long as price stays above that support zone, the setup looks solid—more like controlled consolidation than any real weakness.

⬤ This matters for the broader crypto market because Solana often telegraphs shifts in short-term risk appetite. A clean hold above current support could boost confidence for continuation plays across major altcoins. While price is range-bound for now, the completed double bottom and this consolidation give traders a clear technical roadmap to watch as momentum develops.