NAIROBI (CoinChapter.com) – Solana (SOL) is showing up on analysts’ radars with one significant price breakout expected after recent analysis of current technical formations and market features. Although some analysts expect medium to long-term steady growth, with some even putting forth the possibility of reaching the $1,200 benchmark, Solana has seen volatility with recent fluctuations. From the current list of benchmarks, historical performance might provide insights into Solana’s price in the coming months.
BTC/USD 1-day price chart. Source: CoinMarketCap
October, often seen as a month of optimism for crypto traders and nicknamed ‘Uptober,’ has fallen short of expectations this year. Over the past week, Bitcoin (BTC) has slipped by 3%, while Ethereum (ETH) faced a steeper drop, declining by 7.57%. Solana (SOL) has been hit harder, with its price tumbling 8.18% in the same period, now trading around $144.20.
Three White Soldiers Pattern Suggests Bullish Reversal
Altcoin Archive, a technical analyst, pointed to a rare bullish formation on Solana’s monthly chart—the Three White Soldiers pattern. This candlestick pattern, often considered a bullish reversal signal, has caught attention due to its historical tendency to precede strong upward price movements. If confirmed, this pattern could indicate that SOL price is gearing up for a breakout, although current market conditions remain subdued.
Analysts Eye SOL’s Future with Three White Soldiers Insight. Source: Altcoin Archive/X
Historically, the broader cryptocurrency market tends to rally following U.S. election cycles. Altcoin Archive’s prediction aligns with this theory, suggesting that Bitcoin’s potential rise post-election could fuel further bullish momentum for Solana.
In a parallel analysis, macroeconomist Seth shared his view on X, predicting a bullish continuation for Solana. He cited a bull flag formation on the daily chart, a pattern often indicative of a resumption of the prior uptrend. Seth’s analysis suggests that SOL could break out of its current consolidation phase and reach the $900-$1,200 range.
Analyst Predicts 884% Solana (SOL) Surge, Eyes $500 Target
Analyst Joji sees a strong breakout possibility for Solana. Joji pointed to historical patterns from the 2021 bull run. Back then, SOL surged 884% from a similar position. Based on this data, Joji expects a comparable move soon. The accumulation phase on Solana’s chart hints at a breakout. The analyst believes this surge could happen by the end of the year. This fuels further optimism for Solana’s price potential.
Joji predicts SOL surge; $500 in sight. Source: Joji/X
Meanwhile, Changelly predicts Solana will hit $500 by Feb. 2028. The platform estimates SOL could peak at $503.94 during that period. However, a Solana ETF approval could drive prices higher sooner. This development may accelerate Solana’s rise to the $500 target.
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