IOV BlockChain

Solana

bullish

Solana Price Forecast: Will SOL’s Cup-and-Handle Pattern Fuel a Rally?The current state of the cryptocurrency market is far from clear as most large-cap assets such as Solana (SOL) are trading with fluctuating price action. Specifically over the past two weeks, SOL has been consolidating within the $120-$140 region as investors look for clues as to whether a breakout would be imminent or whether more consolidation could be on the horizon.Network Adoption Reaches a New PeakStill, the price of Solana remains stuck near $140. However, the adoption of crypto in general keeps growing. According to Ali Charts: The blockchain reached an all-time high in number of 11.09 million unique addresses of SOL recently. The adoption shows how important Solana is to the crypto community. One can possibly use it as a bullish sign to keep the <a href="https://www.coingabbar.com/en/price-prediction/solana-price-prediction-2025-2030-2040-2050-what-to-expect" rel="noopener noreferrer nofollow">price up in the long run</a>.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcTQ04pApABsG9q-SWZ6iBquHhSmotlM01QU11Og9rp4vwgBuCteDyZwluvJ-Ji0hm5-cN3ztPfSTD9uASP_d1EkL1cVzZkRihX46BRx3pduomBkj_BORWo-JC5HIGACvfmKXX-Sw?key&#61;676dG-7-3biUxOgWuvF2aqHJ" /><h4>Technical Analysis: Key Levels to Watch</h4>Daily Chart OverviewCurrent Price: $138.54 (&#43;4.29%)Support Levels: $131.32 (20-day SMA), $125Resistance Levels: $158.31 (50-day SMA), $185.29 (100-day SMA)RSI: 49.14 (Neutral momentum)Solana is currently trading just above its 20-day SMA ($131.32) (read: immediate support), there is quite a bit of resistance at the 50-day SMA ($158.31) and the 100-day SMA ($185.29). If it manages to break above those zones, the market can initiate a bullish reversal (SOL would then have a chance to push upward toward the huge $200 resistance level).<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeIdj3c3a3QpfTs0KHFlACXrWVC8XJxNzuW3Bv1pVfYb5q30-Mgd2hzdpKaH0VQTaha66l_l3-qIWdLba3nvPiDZUUG_GAED6136XYDNGqxyXNgZ8CrBxVuwStotGQU24KPC5DH?key&#61;676dG-7-3biUxOgWuvF2aqHJ" />Source: TradingView<h4>Bullish Signal: Cup-and-Handle Pattern Forming?</h4>One of the most respected technical analysts, Ali Martinez, believes the alctoin is forming a Cup and Handle pattern. SOL&#39;s resistance is currently at $200. If it does get past this resistance, Martinez says, it can definitively validate the formation, which historically has been the key to strong bullish momentum. In such a scenario, Martinez says, <a href="https://www.coingabbar.com/en/price-prediction/solana-price-prediction-will-sol-skyrocket-to-4000-in-2025" rel="noopener noreferrer nofollow">Solana would reach as high</a> as $3,800. That&#39;s an insane 1,8500% gain from current levels.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcclxfcGs08v8ASdihbwTofqQazNkQG58DDh-sAAo7OoLqhkL56he_89pI0wi-C1xQmUN4MVqttOuc1r-1HBycxRNMQ7TwvGg6rSPp0ozH2j7SGvxrkP5iV1jPh-rrLn9h4SRMT9Q?key&#61;676dG-7-3biUxOgWuvF2aqHJ" /><h4>Derivatives Market Insights: Rising Trading Activity</h4>As per <a href="https://www.coinglass.com/currencies/SOL" rel="noopener noreferrer nofollow">Coinglass</a>, The derivatives market has seen a 71.33% spike in trading volume reaching $6.89 billion, while open interest meanwhile increased by 9.25% to $4.94 billion. Options trading has also seen an explosive 251.63% increase with concern intensified over what next move will be.But if we look at the liquidations, Over the past 24 hours, total liquidations reached $8.39 million, with $6.96 million in short liquidations.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfFfTagIui10pmE3kj3YmcMRjnXJ_B_NUA55p_GeD5FQ4WUX-0W8ljr1G1gkknc98OlPeRGHjfDY_dcGBUb8gn1KoaJ5DhOuCV0Ucy04ltx2DNOx0QLARMLBmGRs3itnBr75AdRHQ?key&#61;676dG-7-3biUxOgWuvF2aqHJ" /><h4>Market Sentiment: Fear Among Long-Term Holders</h4>Also, according to Ali Charts, long-term Solana holders are showing signs of fear, which I&#39;ve generally connected to smart money accumulation (i.e. &#34;Be greedy when others are fearful&#34;). If we see the same pattern with the price, it&#39;s possible institutional investors will emerge and the SOL price will rise in the coming months.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd61LpPZDkESZAXstayHgzy7SQ68OYNnQPJisvOtAhuDk4BZAkjlZg0qP174QsYizDYhL6XQUEk6vrgPfZHkey5KXkuZ1onfZPJefYt6Q_TpCkr_sn9k_5Dj8uxtiS7S8mTOSdxOg?key&#61;676dG-7-3biUxOgWuvF2aqHJ" /><h4>What’s Next for Solana?</h4>Breakout above $158 - $185 resistance zone: A sustained above $185 would lead to a <a href="https://www.coingabbar.com/en/crypto-currency-news/why-is-solana-rising-today-will-sol-reach-200-or-crash-again" rel="noopener noreferrer nofollow">bullish breakout to $200</a> and beyond.Failure to hold support at $130: If SOL breaks below that line we should expect further consolidation around $125- $120 before another attempt to push higher.Long-term target: If SOL breaks $200 the cup-and-handle formation may trigger a parabolic movement to $3,800.Solana still holds one of the strongest networks when it comes to adoption and activity on the blockchain market. While we don’t see a clear confirmation for long-term consolidation, the key technical indicators already indicate that it is not far from a well-awaited breakout. The key resistance area here would be from $158-$185 while long-term investors may find current fear levels as an opportunity to accumulate before a large rally. Visit- <a href="https://www.coingabbar.com/" rel="noopener noreferrer nofollow">CoinGabbar</a>

Solana Price Prediction: Will SOL Price Ignite a Bullish Rally

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