Solana
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Solana (SOL) continues to exhibit a trend in which investors pay higher prices over time, suggesting the usual maintenance of an upward trajectory in the medium to long term. Therefore, this only marks the continuation of this positive development within the currency and a growing interest from investors to engage in it. More importantly, this key breakout above resistance at $153 has since been validated by a positive signal from the formation of an inverse head and shoulders pattern.
At press time, Solana is trading at $172.12, with a 24-hour trading volume of $4.93 billion, while the market cap is valued at $77.25 billion. The token recorded a growth of 1.54% in the last 24 hours, although the performance this week alone was eye-catching and over 18%. A powerful uptrend in the token highlights a promising sign where further upside could occur.
Analyst Eyes ATH Breakout and $328.6 Target for Solana
Crypto analyst Alex Clay has shared his optimism perspective on Solana’s price trajectory, highlighting its promising weekly structure. He notes that the consolidation below the key resistance area was followed by a break above it, with the retest of the previously broken resistance now acting as support.
Clay anticipates an imminent breakout above Solana’s all-time high (ATH), signaling further bullish momentum. The analyst sets a target price of $328.6, suggesting significant upside potential for the cryptocurrency. This optimistic outlook is based on Clay’s current technical analysis and market trends.
Additionally, CRYPTOWZRD, a highly respected crypto analyst, also shared his optimistic vision. The analyst expressed an optimistic sentiment about Solana’s future, noting that significant gains are on the horizon. “Round 2 is coming,” he proclaimed, suggesting a major price move is imminent. According to his analysis, it is “only a matter of time before $SOL breaks out.”
The analyst set a particular price target, stating that a break above $180 could trigger a massive rally that would propel Solana’s value to levels not seen since 2021. He further outlined the upcoming targets for potential rises to $220 and $241.
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