$SOL Breakout Possible? The Big Moment Has Come!

SOL’s recent performance has been impressive! The price has skyrocketed to $161 and many are calling it the “Ethereum Killer”.

But the question is, will it really surpass BTC or will it face a bottleneck like Ethereum? ETH’s performance is currently sluggish, falling to a three-and-a-half-year low against Bitcoin.

Meanwhile, SOL is seizing this opportunity and could become an unknown quantity in the market. It has held the $120 support level, leaving plenty of room for future gains. What does the future hold for SOL? A strong rally or a downturn? Technically, SOL is currently in a symmetrical triangle recovery pattern.

If the upper trend line can be successfully broken, the short-term target could be around $175. If the market sentiment remains strong, SOL could even surge to $325 by the end of 2024, reaching 50% of Ethereum's current market value! Sounds exciting, right? Short-term support and long-term trend In the short term, $154 is the key support level for SOL.

If the price breaks below this support level, the next target could be the $150-143 range, which is close to the bullish trend line. As long as it does not break below this range, the bullish trend of SOL remains intact and a breakout of the upper trend line is just a matter of time.

SOL has demonstrated strong upside potential; holding the support level and waiting for a breakout could be the next explosive point.

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