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<p><a href="https://captainaltcoin.com/key-levels-suggest-solana-price-could-break-out-soon-heres-the-outlook/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL) could see a bullish breakout</a>, according to an analysis shared by crypto analyst Stockmoney Lizards. The analyst’s chart suggests that the token may surpass $600, projecting a steady climb if certain conditions align.&nbsp;</p>
<p>Moreover, the analysis outlines key price levels and a potential breakout pattern, while Stockmoney Lizards’ tweet emphasizes an anticipated bullish move following a fake-out and retest.</p>
<p>The analysis highlights a descending trendline that has acted as a resistance for Solana, situated between $160 and $170. This trendline has been a point of rejection for the token multiple times, making a breakout above it crucial for continued upward momentum.&nbsp;</p>
<p>According to the chart, if SOL manages to clear this resistance, it could set the stage for further gains. Support is noted at $108.92, which aligns with a previous consolidation zone.&nbsp;</p>
<p>Besides, this level is seen as critical to maintaining bullish momentum, acting as a safety net if the token experiences a retracement. A breakdown below this point could indicate further declines.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Solana</a> Update<br><br>Pretty sure, we will before we go to the next level, we will see a fake out, retest and than valhalla! <a href="https://t.co/FBE4R96AAi" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/FBE4R96AAi</a></p>— Stockmoney Lizards (@StockmoneyL) <a href="https://twitter.com/StockmoneyL/status/1847157481404772396?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 18, 2024</a>
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<h2 class="wp-block-heading" id="strong-bullish-projections-with-fibonacci-extensions-strong"><strong>Bullish Projections with Fibonacci Extensions</strong></h2>
<p>Stockmoney Lizards’ analysis provides two bullish targets using Fibonacci extensions. The first target is set at $420.70, corresponding to the 1.618 extension, which could be achievable after breaking past the descending resistance.&nbsp;</p>
<p>The analysis also projects a more ambitious target of $613.39, marked by the 2.618 extension. This level is identified as the ultimate bullish goal, contingent on sustained buying pressure and the <a href="https://ambcrypto.com/solana-flips-ethereum-and-that-means-sol-prices-will-now/" target="_blank" rel="noopener noreferrer nofollow">continuation of upward momentum</a>.</p>
<p>The tweet accompanying the chart hints at confidence in a bullish breakout, describing a scenario of a fake-out above resistance, followed by a retest before a substantial rally. The term “Valhalla” is used to imply a strong, extended bullish trend, aiming for the projected Fibonacci levels.</p>
<h2 class="wp-block-heading" id="strong-trend-analysis-suggests-imminent-breakout-strong"><strong>Trend Analysis Suggests Imminent Breakout</strong></h2>
<p>The chart outlines a series of higher lows, suggesting a buildup of bullish momentum despite ongoing resistance. This tightening range hints at a possible breakout, as Solana continues to consolidate near the descending trendline.&nbsp;</p>
<p>Such a pattern often precedes a decisive move, where a successful breakout would pave the way for the anticipated price rally. Volume analysis will play a key role. Why? High volume during the breakout would validate the move, supporting the bullish outlook presented by the analyst.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/stellar-xlm-price-set-to-explode-key-breakout-signals-huge-gains/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Stellar (XLM) Price Set to Explode? Key Breakout Signals Huge Gains!</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-anticipated-price-movements-strong"><strong>Anticipated Price Movements</strong></h2>
<p>Stockmoney Lizards’ analysis predicts an initial fake-out above the descending trendline, leading to a retest where the trendline switches from resistance to support. If this pattern unfolds, it could establish a foundation for a prolonged upward trend.</p>
<p>Solana’s technical setup points to a potential breakout scenario, with critical support and resistance levels dictating the <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">token’s price movement</a>. The analysis provided by Stockmoney Lizards suggests a bullish outlook, targeting $420 and $613 as key price milestones if the token manages to sustain its momentum after clearing the immediate resistance.</p>
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<p>The post <a href="https://captainaltcoin.com/analyst-maps-solanas-sol-price-path-past-600-heres-his-outlook/" rel="noopener noreferrer nofollow">Analyst Maps Solana’s (SOL) Price Path Past $600: Here’s His Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Maps Solana’s (SOL) Price Path Past $600: Here’s His Outlook

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