The price of SOL has formed a 'bull flag', targeting 500 USD in 2025

The price of Solana (SOL) is undergoing a positive phase as it forms a 'bull flag' pattern, indicating strong bullish potential in the near future. This pattern appears when the price consolidates within a descending channel after a strong price increase, and when the price breaks out of the upper trendline, it often leads to a significant increase corresponding to the height of the flagpole. If SOL successfully maintains above the moving averages and breaks through the important resistance level, the target of 500 USD by 2025 is entirely achievable.

Additionally, the resurgence in the prices of many major cryptocurrencies could drive SOL's upward momentum. Demand from the investment community is also expected to increase, especially as Solana continues to develop and attract more DeFi and NFT applications in the coming year, laying a solid foundation for further growth.