Shocking prediction! Solana ETF rumors set off the market, SOL price may soar 8900%?
Solana Price Prediction: The price of SOL has fallen by 8.4% in the past 24 hours and is trading at $136 during European working hours. The price drop may be affected by Bitcoin's recent break below the key support level of $60,000, which has also affected other cryptocurrencies.
The price of SOL must remain above $128 for the asset to continue to be bullish. Otherwise, a break below this level may lead to a further drop to the main support level of $87. If the bulls prevail and the SOL price rebounds from the current 200-day SMA support, Solana may rise further by 22% to $164, which coincides with the top trendline of the symmetrical triangle.
Before this chart pattern is formed, the mainstream trend is upward. After narrowing, the symmetrical triangle becomes part of a bullish pennant chart pattern, which has a high probability of breaking upward. Solana’s price prediction shows that a breakout of the symmetrical triangle could result in a further 37% price swing, taking SOL’s price to $227, just 12% below its previous all-time high.
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Solana’s price analysis shows an impressive bullish stance, even as Bitcoin price experiences a downturn. SOL’s growing popularity in the cryptocurrency market has allowed it to maintain positive momentum despite broader market trends. The continued resilience of its price action is a testament to the growth of its ecosystem, which has attracted investor interest and could set the stage for further gains.
