bullish

Rally

Solana

Momentum

<p>In an analysis, crypto analyst ZAYK Charts has identified a <a href="https://captainaltcoin.com/this-analyst-makes-a-viral-solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish pattern in Solana’s (SOL)</a> price chart, suggesting a potential surge. The tweet accompanying the chart,&nbsp;</p>
<p><em>“$SOL Bullish Pennant Breakout is Done as Expected, Now Send to $350,”</em> captures the confidence in the ongoing trend.&nbsp;</p>
<p>Moreover, the analysis highlights the breakout pattern and positions $350 as a plausible target for SOL’s next upward move.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> Bullish Pennant Breakout is Done as Expected<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Now Send to $350<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SOL</a> <a href="https://twitter.com/hashtag/SOLUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SOLUSDT</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/1wYgRmFHGd" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/1wYgRmFHGd</a></p>— ZAYK Charts (@ZAYKCharts) <a href="https://twitter.com/ZAYKCharts/status/1851916234737983598?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 31, 2024</a>
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<h3 class="wp-block-heading" id="strong-bullish-pennant-breakout-on-solana-chart-strong"><strong>Bullish Pennant Breakout on Solana Chart</strong></h3>
<p>The Solana chart by ZAYK Charts illustrates a bullish pennant, a pattern that follows a strong upward movement, consolidates, and then continues the trend. On this 2-day timeframe, SOL’s price recently broke above the upper boundary of the pennant, signaling a bullish breakout.&nbsp;</p>
<p>This breakout, considered a continuation pattern, reinforces the prior uptrend that began in late 2023 and carried through early 2024. The pennant structure, with converging support and resistance lines, signifies a potential for upward movement, as seen in SOL’s rally during this period.</p>
<p>With the breakout confirmed, the SOL price has started to rise, aligning with ZAYK’s projection and indicating that SOL may continue to track the previous bullish trend.</p>
<h3 class="wp-block-heading" id="strong-support-and-resistance-zones-established-strong"><strong>Support and Resistance Zones Established</strong></h3>
<p>SOL has created notable support and resistance areas. The pennant’s lower boundary, near $135, previously acted as a consolidation support level, providing stability if SOL retests its position.&nbsp;</p>
<p>Following the breakout, the $180-$190 range represents immediate support, critical for SOL’s resilience in any short-term pullback. At press time, however, <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL trades slightly below this level at $174</a>. This positions the $350 target as a key resistance aligned with prior highs in previous cycles.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/heres-why-whales-are-manipulating-kaspa-kas-price/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Here’s Why Whales Are Manipulating Kaspa (KAS) Price</em></strong></a></p>
<h3 class="wp-block-heading" id="strong-upward-momentum-and-volume-support-the-trend-strong"><strong>Upward Momentum and Volume Support the Trend</strong></h3>
<p>SOL has displayed consistent upward momentum, bolstered by substantial buying volume. The breakout saw a strong bullish candle, indicative of increased buying interest.&nbsp;</p>
<p>Since late 2023, SOL has maintained an uptrend with established higher lows, supporting the continuation of the bullish move. The breakout aligns with ZAYK’s projection, suggesting confidence in <a href="https://www.binance.com/hu/square/post/2024-10-31-solana-completes-golden-cross-faces-resistance-at-183-15606989507649" target="_blank" rel="noopener noreferrer nofollow">SOL’s momentum</a> toward $350.</p>
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<p>The post <a href="https://captainaltcoin.com/this-solana-pattern-could-mean-sol-price-rally-to-350/" rel="noopener noreferrer nofollow">This Solana Pattern Could Mean SOL Price Rally to $350</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Solana Pattern Could Mean SOL Price Rally to $350

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