Solana, one of the leading altcoins in the cryptocurrency market, is currently facing a challenging period as its price remains stuck in a narrow range. Despite the recent surge in memecoin hype, which provided a significant boost to Solana's price, the altcoin has failed to break out of its consolidation phase. However, technical indicators suggest that a bullish trend may be on the horizon for SOL.

The price of Solana has been fluctuating within a tight range, indicating a lack of volatility in the market. This consolidation phase has been ongoing for some time, and investors are eagerly waiting for a breakout. The recent memecoin hype, which was triggered by the resurgence of interest in meme coins, provided a much-needed boost to Solana's price. However, the altcoin's inability to sustain its gains and break out of its consolidation phase has raised concerns among investors.

Despite the challenges, technical indicators suggest that a bullish trend may be imminent for SOL. The daily MACD is on the bullish side, indicating that the altcoin may be preparing for a breakout. Additionally, the stochastic RSI has reached oversold levels, suggesting that a rebound may be on the cards. The Gaussian channel, a technical indicator that measures the strength of a trend, has also turned green, indicating a potential upswing.

The recent price action of Solana has been marked by a series of higher lows and lower highs, indicating a consolidation phase. The altcoin's price has been trading within a symmetrical triangle, which is a bullish pattern that suggests a potential breakout. The tight accumulation within the triangle indicates that a huge price action may be on the horizon.

The bulls have been holding a tight grip on the rally, and the current trade setup suggests that they may be preparing for a push above $180. The bears, on the other hand, have been trying to push the price down, but their efforts have been met with resistance. The equal participation of both bulls and bears has resulted in a tight accumulation, which may lead to a huge price action in the near future.

In conclusion, Solana's price remains stuck in a narrow range, but technical indicators suggest a potential bullish trend on the horizon. The recent memecoin hype provided a significant boost to the altcoin's price, and the current trade setup indicates that a breakout may be imminent. Investors are eagerly waiting for a clear direction, and only time will tell if Solana will be able to break out of its consolidation phase and reach new heights.