With the huge gains he has made over the past few days. Solana It has shown real potential in this ongoing bull cycle, making SOL one of the best performing crypto assets on the market. As a result of this rally, there is growing confidence within the community about the possibility of SOL rising to higher resistance levels or a new peak.
Extended rise in Solana price?
The leading altcoin Solana has Achieve Breakout of the critical pattern, which marks an important turning point for SOL price action and technical formation. The latest breakout shows the resilience of the crypto asset, sparking a rebound once again after SOL fell sharply on Tuesday evening.
According to Rose Premium Signals, SOL has shown consistent strength as it moves forward in a clear upward trend, surpassing flat resistance. As a result of the hack, the platform highlighted that Alternative currency It formed a bullish framework, supporting its ability to reach higher targets in the coming weeks.
After a thorough examination of the breakout, Rose Premium Signals placed the next potential upside targets for SOL at the $268, $320, and $367 levels, indicating its strong conviction of an impending notable upside as the bull market progresses.
As SOL breaks through key resistance levels, it could strengthen its bullish momentum, making a significant rally to higher highs possible. This development comes in light of… Solana growing ecosystemwhich may attract more investors over time and significantly affect its price.
Trader Tardigrade, a market expert and cryptocurrency content creator, also strongly believes a major rally will occur. The expert has delved into the current price action of the altcoin expected That SOL could touch major targets soon, perhaps achieving a new all-time high.
Tardigrade trader forecast is based on a bullish breakout from the two-week downtrend line that kept SOL price in check. This move signals renewed strength for the digital asset, pushing its price towards pivotal resistance levels that may spark bullish momentum. Due to the strong upward force and High optimism Among investors and traders, the expert expects the altcoin to be worth around $300, $500, and $1,000 by 2025.
It’s time for SOL to rise
In a precedent mailTrader Tradigrade also pointed out another major trend for SOL on the one-day time frame, indicating that the asset is preparing for a significant rally. According to the expert, Solana saw a daily close above the 50 Weighted Moving Average (WMA), which led to a price recovery. Since there are enough bounce conditions from the recent pullback, Trader Tardigrade says it’s time for SOL to rally again.
At the time of writing, Sol It was placed at the $236 price level after a 0.05% decline in the past day. On the weekly time frame, the altcoin also fell by approximately 2%. Despite the declining price performance, investors may still be optimistic about the upside as evidenced by the increase in daily trading volume of over 14%.
Featured image from Adobe Stock, chart from Tradingview.com
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