🚀 Solana (SOL) Hits $100 and Gears Up for a Bullish Surge! 🌐💹

Exciting news for the crypto enthusiasts! Solana (SOL) has bounced back to the $100 mark, indicating a potential upward surge after a period of consolidation. Let's delve into the insights provided by Laurie Dunn and explore the possibilities for SOL in the crypto market.

1. $SOL Builds Price Structure: A Healthy Approach to Growth

After a rapid rise from mid-October to mid-December, reaching a local top at $126, Solana underwent a period of correction and sideways movement. The current scenario suggests that SOL is building a solid price structure, paving the way for a more sustainable and healthier growth trajectory.

2. Bull Flag Formation: A Sign of Potential Breakout?

Examining the 4-hour timeframe, $SOL seems to be forming a potential bull flag. While it falls slightly short of the typical three touches needed to confirm the pattern, the consistent support along the bottom trend line indicates strong price respect. A breakout from this flag pattern could propel SOL to a target price of $154.

📊 Chart Analysis: Bull flag formation signals potential breakout, bringing $SOL to $154.

3. Positive Longer-Term Price Action: Aiming for $163

Zooming out to the weekly timeframe, SOL appears to be consolidating around the 0.382 Fibonacci level. Analysts anticipate a potential target at the 0.618 level, around $163. However, recognizing the likelihood of strong resistance at this level, a healthy price structure might involve a retracement to at least $137.

🔮 Future Predictions: $163 target with expected resistance; potential retracement to $137 for healthy growth.

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