#ReboundRally Ali Martinez believes Solana is set for inevitable growth

Solana (SOL) is showing early signs of a potential rebound, backed by the current technical setup.

According to renowned analyst Ali Martinez, a TD Sequential buy signal has appeared on the token's daily chart. It follows a period of sustained selling pressure, hinting that the ongoing downtrend may soon reverse and pave the way for a potential Solana price recovery.

In addition, the appearance of “TDS 9” on the chart suggests that the asset may have bottomed as it bounced off the support level at $176, which acted as a solid barrier during the recent downtrend.

Solana Price Analysis. Source: Ali Martinez

The ensuing recovery lifted the Solana price to the current $194, showing a daily gain of 2.7%. As a result, the next resistance is seen at $197. Its breakout could strengthen the bullish momentum.

Another crypto analyst Captain Fybik noticed that Solana broke out of the bullish pennant on the weekly chart. Combined with strong buying momentum, this breakout signals the potential for significant upside with a target at $400.

Bitcoin rate changes will also be a key factor in shaping Solana's upward trajectory, which will be fueled by expectations of approval for Solana-based spot ETFs. Earlier, outgoing U.S. SEC Chairman Gary Gensler rejected such a proposal, citing concerns over the cryptocurrency's classification as a security.