Alex Clay noted a bullish flag pattern on the Solana chart. This pattern indicates that a breakout is imminent. His analysis identifies two key price targets: the first at $391.80 and the second at $621.00.
The chart illustrates a bullish flag pattern, which is a technical signal suggesting that an uptrend will continue after a period of consolidation. The flagpole represents a prior rapid price increase, while the horizontal consolidation phase indicates a brief pause before the next upward movement.
Read Also: Polkadot (DOT) Price Analysis: $5.32 Entry Signals Potential Breakout – Here Are the Targets
According to Clay, the completion of this bullish flag structure signals that SOL is poised for a continuation of its upward trajectory.
A significant resistance zone is evident around the $220 level, which SOL is currently testing. Successfully breaking through this resistance is essential for a pronounced bullish movement. Additionally, there is a “Key Zone” identified around $125, which SOL has already surpassed, further supporting the upward trend.
Projected SOL Price Targets
Target 1: $391.80 – This initial target is based on Fibonacci extensions and prior price action levels.Target 2: $621.00 – This more ambitious target suggests that if SOL continues its bullish trend, it could reach this level.
Fibonacci levels such as 1.414, 1.618, 2.0, and 2.272 align with potential resistance and profit-taking points. These levels provide a framework for setting realistic targets based on historical price movements and retracement analysis.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Major Bullish Signal Emerges for Solana (SOL) Price: Analyst Sees a 150% Surge From Here appeared first on CaptainAltcoin.
