Solana Poised for a Breakout as Bollinger Bands Tighten, Analyst Says
Solana (SOL) has had a mixed week, briefly climbing toward $90 before sliding back to just above $85. That pullback hasn’t gone unnoticed: on April 24, popular crypto analyst Ali Martinez posted on X that SOL is trading inside a narrow range that could be setting up a major move.
Why the squeeze matters
Martinez points to a contraction of the Bollinger Bands on Solana’s three-day chart — a classic sign that volatility is drying up and a sharp breakout may be imminent. On that timeframe the indicator has formed a tight band between roughly $77 and $94. Traders often call this pattern a “squeeze” or, as Martinez put it, a “coiled spring”: the longer price stays compressed in the range, the more momentum it can build for the next directional move.
A cautious entry zone
Despite the bullish implications, Martinez warned investors against buying into the chop. He labeled the $77–$94 area a “no-trade zone,” explaining that “chasing candles inside this consolidation often leads to being chopped up.” Instead, he advised waiting for a decisive, clean three-day candle close outside the bands to confirm a volatility spike and a true breakout.
What this means for traders
Putting the analyst’s view together: SOL looks set for a significant move over coming months, but timing and confirmation matter. Short-term traders should avoid getting caught in consolidation noise; momentum traders and longer-term holders may watch closely for a clear break above or below the banded range.
Price snapshot
At the time of writing SOL trades around $86.26, up about 0.2% in the past 24 hours and down nearly 3% over the last seven days, according to CoinGecko.
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