bullish

Solana

Momentum

when

Bold

<p>Amid the ongoing consolidation in the cryptocurrency landscape, asset management giant VanEck has made a bold prediction for Solana (SOL). This forecast has captured widespread attention from the global crypto community, particularly as it comes during a period when SOL has been struggling consistently.</p>   
<h2 class="wp-block-heading" id="h-vaneck-predicts-500-for-solana-nbsp"><strong>VanEck Predicts $500 for Solana&nbsp;</strong></h2>   
<p>In a recent post on X (formerly Twitter), VanEck stressed that the crypto bull market is expected to reach a medium-term peak in Q1 and set new highs in Q4 of 2025. The post also noted that during this bull run, Solana's (SOL) price could hit a new high of $500.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/vaneck_us/status/1867610972237521256 
 </div>
</figure>   
<p>This prediction appears achievable, as SOL is poised for a massive rally, having formed a bullish price action pattern.</p>   
<h2 class="wp-block-heading" id="h-solana-s-sol-bullish-breakout-levels-to-watch"><strong>Solana’s (SOL) Bullish Breakout Levels to Watch</strong></h2>   
<p>According to expert technical analysis, SOL has been consolidating for over three weeks and has formed a bullish flag-and-pole price action pattern on the daily timeframe. A flag-and-pole is a price action pattern that traders and investors use to build long positions over different time periods if the price breaches or breaks out of the pattern.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/12/14213930/SOLUSDT_2024-12-14_21-39-12.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/14213930/SOLUSDT_2024-12-14_21-39-12-1024x472.png" alt="" class="wp-image-393307"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
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</figure>   
<p>However, SOL appears to be struggling to break out of this pattern. According to technical analysis, if SOL successfully breaks out and closes a daily candle above the $236 level, there is a strong possibility it could soar by 70% to reach the $415 level in the coming days.</p>   
<p>Additionally, SOL’s Relative Strength Index (RSI) is currently near the oversold region, indicating that the asset is poised for upside momentum.</p>   
<p>This bullish thesis will remain valid only if SOL breaks out of this price action pattern and closes a daily candle above the $236 level; otherwise, it may fail.</p>   
<h2 class="wp-block-heading" id="h-81-of-traders-long-on-sol"><strong>81% of Traders Long on SOL</strong></h2>   
<p>SOL’s technical analysis is further supported by on-chain metrics. According to the on-chain analytics firm Coinglass, the Binance SOLUSDT long/short ratio currently stands at 4.28, indicating strong bullish sentiment among traders. At present, 81.05% of top Binance traders hold long positions, while only 18.95% hold short positions.</p>   
<p>These on-chain metrics and technical analysis indicate that the bulls are currently dominating the asset, which could support SOL in breaching the bullish pattern.</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>   
<p>At press time, SOL is trading near $222 and has experienced a price decline of 0.75% in the past 24 hours. Additionally, its trading volume has dropped by 24% during the same period, indicating reduced participation from traders and investors compared to the previous day.</p>

Solana to $500? VanEck’s Bold Price Prediction for SOL

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