Solana Price Analysis Hints Rally to $200 as OnChain Metric Jumps 33%

Solana Price Analysis: Explore how SOL’s symmetrical triangle pattern and increased on-chain activity suggest potential for future price gains.

HIGHLIGHTS

A bullish breakout from the triangle pattern is needed to trigger a directional rally in the SOL price.

The flattish trend of 20-and-50-day EMAs accentuates the near-term trend sideways for this token.

The 24-hour trading volume on the Solana coin is $2.57 Billion, indicating a 6.04% loss.

Solana Price Prediction: On June 12th, the Solana coin witnessed a notable jump of 7% to reach the trading value of $160. This uptick followed the broader market recovery as crypto investors reacted positively to the U.S. CPI Data. The United States reported that May’s unadjusted Consumer Price Index (CPI) annual rate stood at 3.3%. A less hawkish monetary policy generally supports riskier assets, including cryptocurrencies, by maintaining more favorable liquidity conditions.