Solana

Polkadot

Momentum

when

Read

<p>Crypto analysts TheMoonCarl and CryptoJelleNL have shared technical analyses suggesting <a href="https://captainaltcoin.com/solana-whales-on-the-move-sol-price-eyes-new-ath-amid-etf-filing/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL)</a> may be entering a new uptrend. Moreover, SOL’s price action has shown strength against both USD and ETH trading pairs, with specific price targets emerging from chart patterns.</p>
<h2 class="wp-block-heading" id="strong-market-structure-points-to-sol-momentum-strong"><strong>Market Structure Points to SOL Momentum</strong></h2>
<p>TheMoonCarl’s chart reveals SOL has broken out of a symmetrical triangle pattern that formed since mid-November.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/TheMoonCarl/status/1864643629404364966
 </div>
</figure>
<p>The breakout occurred at $242.74, (the price has slightly <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">pulled back to $240</a>, at press time) with the pattern suggesting a measured move target of $290. This represents a potential 21.65% increase from the breakout point.</p>
<p>Technical support levels have established themselves at $230-235, with major support at $215 marking the lower boundary of the previous consolidation pattern. The price action demonstrates a series of higher lows leading into the breakout, suggesting steady accumulation.</p>
<h2 class="wp-block-heading" id="strong-eth-ratio-shows-historical-context-strong"><strong>ETH Ratio Shows Historical Context</strong></h2>
<p>CryptoJelleNL’s analysis emphasizes <a href="https://www.fxleaders.com/news/2024/12/05/solana-targets-302-as-top-addresses-accumulate-undervalued-crypto/" target="_blank" rel="noopener noreferrer nofollow">SOL’s performance</a> against Ethereum, noting that the SOL/ETH trading pair has reached levels from previous market cycles.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/CryptoJelleNL/status/1864573122592079900
 </div>
</figure>
<p>The current price action shows SOL consolidating near its all-time highs when measured in USD terms, while simultaneously testing key historical levels against ETH.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/analyst-says-polkadot-is-growing-fast-predicts-dot-price-surge-to-50/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Analyst Says Polkadot is ‘Growing Fast,’ Predicts DOT Price Surge to $50</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-market-structure-validates-technical-setup-strong"><strong>Market Structure Validates Technical Setup</strong></h2>
<p>The symmetrical triangle pattern that preceded the breakout formed through a convergence of rising support and falling resistance trendlines. This classical technical formation often precedes sustained moves in the direction of the breakout.</p>
<p>The current setup includes multiple validation points on both trendlines, strengthening the pattern’s reliability. The price movement has attracted attention from market participants, with TheMoonCarl sharing the analysis to his substantial X following.</p>
<p>The breakout scenario includes clear invalidation levels, with the previous resistance trendline now potentially serving as support in the $230-235 range.</p>
<p>Trading volume patterns and momentum indicators align with the broader technical structure, providing traders with defined risk levels and potential targets. The market continues to monitor these levels as the breakout scenario unfolds.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/analysis-maps-solanas-sol-price-path-to-290-key-levels-to-watch/" rel="noopener noreferrer nofollow">Analysis Maps Solana’s (SOL) Price Path to $290: Key Levels to Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analysis Maps Solana’s (SOL) Price Path to $290: Key Levels to Watch

Table of Contents

CaptainAltcoin

Other articles published on Dec 5, 2024

Bitcoin at $100K: Trump’s Crypto-Friendly Agenda Sets a $2 Trillion Market Ablaze

Phantom Wallet Integrates Sui (5 Dec)

XRP market cap turn down as the price shrink 12% in a day

Trump’s New Crypto Advisory Committee Expected to Create U.S. Bitcoin Reserve: Report

'Hawk Tuah' Girl's Token Hits $491M Cap, Then Faces Sharp Correction

Bitcoin Surpasses $100,000 and Gains Momentum

Join our free newsletter for daily crypto updates!