CandleFocus Solana Price Rally: These Investors Could Spark a 33% Surge
2024-10-10
Author: Content Editor
The article discusses the potential for Solana (SOL) to break out of its ascending triangle pattern and experience a significant price surge. Institutional investors have shown strong support for SOL, with inflows totaling $5.3 million while other major cryptocurrencies experienced outflows. The combination of institutional support and bullish technical indicators, such as the Relative Strength Index (RSI), position Solana for a potential breakout. If SOL breaches the $161 resistance level and the RSI turns bullish, it could trigger a significant rally. However, if SOL fails to break out, the price could retrace back to $139, casting doubt on the bullish outlook.
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