Rally

Solana

Test

<p>Crypto analyst Alex Clay has identified key technical formations on Solana’s chart that point <a href="https://captainaltcoin.com/analysis-maps-solanas-sol-price-path-to-290-key-levels-to-watch/" target="_blank" rel="noopener noreferrer nofollow">toward a possible break above</a> its previous all-time high.&nbsp;</p>
<p>Clay’s analysis, shared via X, emphasizes the digital asset’s strong positioning above major support zones and the emergence of a bullish candlestick pattern.</p>
<p>The monthly supply zone has become a focal point for Solana’s price action, with sustained trading activity showing persistent buyer interest. Market data reveals a solid support base between $100 and $130, which has anchored SOL’s upward trajectory since early 2023.</p>
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   <p lang="en" dir="ltr">Couple of facts on <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SOL</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f481-200d-2642-fe0f.png" alt="💁‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;">Re-Accumulation inside of the Monthly Supply Zone, also above the key zone<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;">Three White Soldiers breakout<a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> already tested the 2021 All Time High, not it's time to break through the one<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/lKpFTG14OW" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/lKpFTG14OW</a></p>— Alex Clay (@cryptclay) <a href="https://twitter.com/cryptclay/status/1864714516992323586?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 5, 2024</a>
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<p>The price consolidation within this range has created a stable foundation for further advancement. Trading volumes indicate strong institutional participation, with systematic accumulation occurring during quieter market periods. This behavior aligns with traditional re-accumulation patterns seen before market moves.</p>
<h2 class="wp-block-heading" id="strong-three-white-soldiers-pattern-emerges-strong"><strong>Three White Soldiers Pattern Emerges</strong></h2>
<p>A distinctive Three White Soldiers formation has materialized on <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL’s price </a>chart, characterized by three consecutive positive closing periods. This technical pattern holds particular weight as it follows an extended re-accumulation phase within the $240 to $260 range.</p>
<p>Market participants have noted the methodical nature of these price advances, suggesting calculated positioning rather than speculative fervor. The pattern’s appearance at current price levels adds technical validation to the <a href="https://www.financemagnates.com/cryptocurrency/why-crypto-market-inflows-surged-amid-the-us-presidential-election/" target="_blank" rel="noopener noreferrer nofollow">broader market structure</a>.</p>
<p><em>Read also: </em><a href="https://captainaltcoin.com/heres-why-dogecoin-doge-price-could-see-an-epic-breakout-soon-analyst/" target="_blank" rel="noopener noreferrer nofollow"><em>Here’s Why Dogecoin (DOGE) Price Could See an Epic Breakout Soon – Analyst</em></a></p>
<h2 class="wp-block-heading" id="strong-historical-price-levels-test-market-resolve-strong"><strong>Historical Price Levels Test Market Resolve</strong></h2>
<p>SOL’s approach toward its 2021 peak of $259.90 marks a defining moment in its price evolution. The digital asset has demonstrated resilience by maintaining prices near this historical threshold while establishing higher support levels.</p>
<p>The convergence of multiple technical factors – including the Three White Soldiers pattern, sustained re-accumulation, and proximity to all-time highs – creates a noteworthy technical setup. Trading activity shows continued market engagement, with volume patterns supporting both consolidation and advancement phases.</p>
<p>Moreover, the established support structure provides a framework for potential price discovery should SOL breach its previous peak potentially hitting $300 to $400. This technical confluence offers context for market participants monitoring SOL’s progress through these pivotal price points.</p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-solana-sol-price-could-be-set-for-a-rally-to-new-all-time-highs/" rel="noopener noreferrer nofollow">Here’s Why Solana (SOL) Price Could Be Set for a Rally to New All-Time Highs</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why Solana (SOL) Price Could Be Set for a Rally to New All-Time Highs

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