Reasons Why Solana Price Could Hit $180 Soon đŻđŻ
Bullish Pennant Pattern Points to SOL Price Surge Toward $180)
Solana Price Set for October Surge with Historical 14% Return
Following the broader market sentiment, the Solana price typically records a bullish trajectory in October.SOL records an average monthly return of 14.% this month, considering the data from the last four years.
If history repeats, the layer-1 cryptocurrency could drive a bullish reversal in Octoberâs second half.
Solana Meme Coins to Fuel Early 2024 Rally
Based on historical trends,crypto market witnessed a major recovery in October. This bullish turnaround could significantly impact the meme cryptocurrency sector due to its volatile nature and attraction for speculative trading.
As a result, renewed interest in Solana meme coins could significantly boost Solanaâs network activity and revenues, potentially setting the stage for an early 2024-like rally.
Solana Active Addresses Surge 15%: User Engagement on the Rise
The Solana active addresses witnessed a sudden jump from 3 Million to 3.47 Million, registering a 15% jump. The increase indicates highlighted user activity and engagement within the network.
The growth in active addresses is marked among the core fundamental growth of a network that drives natural demand for its native cryptocurrency.
Bullish Pennant Pattern Points to SOL Price Surge Toward $180
daily chart,Solana price prediction shows the formation of a bullish pennant pattern. Generally, the chart setup resembles a dominant trend with a pole, followed by two downsloping trendlines to recuperate the bullish momentum.
SOL price had traded at $145, with a market cap of $68.27 billion. Following the chart setup, the asset price will likely surge 24% to challenge the pattern overhead trendline at $180.
A potential breakout will signal the end of seven months of consolidation and drive a sustained rally.
However, if the downsloping trendline remains intact, the sellers could bolster a prolonged sideways trend.
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