Reasons Why Solana Will Soar to $840 This Year!

Sol is undoubtedly one of the winners of this cycle, with a gain of more than 1,000% in a year. In addition, multiple viral meme coins on the Solana blockchain reached a market cap of $1 billion last year, accelerating its upward momentum.

For Solana's price, crypto analysts explained that a huge cup-and-handle pattern is brewing on the chart. This pattern is important because it is historically bullish and appeared as early as 2021 when Solana price hit an all-time high of more than $250.

Given that the price has been rising over the past day, this shows that Solana price is facing buying pressure, which is good for the token in the long run. Now, if this buying pressure continues, the altcoin may soon hit a new all-time high.

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Currently, the SOL price is just above $151, up 4.59% over the past day. On the weekly and monthly charts, the price is up 7.22% and 5.08%, respectively.

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