CandleFocus Solana Breakout From Bullish Pattern Could ‘Send SOL To The Moon’ – Crypto Analyst
2024-10-25
Author: Content Editor
Solana (SOL) has shown strong performance, surging by 32% in the past fifteen days and outperforming Bitcoin and other altcoins. Analysts and investors are optimistic about SOL's potential and expect it to continue its upward momentum. Investor Carl Runefelt shared technical analysis on SOL, noting a breakout from a bullish pattern that could lead to significant gains. The breakout from a classic "Cup & Handle" pattern suggests a potential price target of $370, a 115% surge from current levels. The breakout may take time to fully play out, as the overall crypto market settles. SOL is currently trading at $171, with a key demand zone at this level. Holding above $171 would support further bullish momentum, while a dip to $160 would provide an opportunity to consolidate before a higher push. The $171 mark is an important gauge of strength for SOL.
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