Solana Price Rises over $800 SOL as Historical Pattern Returns

Solana (SOL) has shown extraordinary resilience despite a week of market turmoil and investor anxiety about macroeconomic risks.

Since hitting $209 in mid-March, SOL has been making lower highs while sustaining important support levels, generating a symmetrical triangle pattern that suggests further moves. SOL's price rallied well from a multiyear support level at $122 on Friday, indicating an optimistic weekend.

The token's price behavior has been studied by market experts, with some connecting current market dynamics to Solana's trading history.

Trader Tandigrade tweeted on Friday that a symmetrical triangle and the Relative Strength Index (RSI) rebounding to neutral levels after being overbought were comparable to 2021 patterns.

Solana repeats 2021 movements Same Symmetrical Triangle was made. From overbought, RSI rebounds to 50. Middle of the Bull Run SOL," the pundit predicted a $800 SOL spike.


Captain Faibik revealed SOL's weekly chart, showing the triangle inside a bullish flag formation, boosting confidence. Faibik predicted SOL would reach $1000 when the bull flag's second pole was completed.

Raoul Pal, a worldwide macro and cryptocurrency market expert, has advised buying SOL during its tringle consolidation period. In a separate YouTube broadcast last week, the commentator revealed that Solana holds a large percentage of his crypto assets.

EVAI CEO Matthew Dixon noted technical evidence that suggest SOL's corrective phase may continue. The pundit tweeted that a frequent bearish divergence, a technical indicator signaling an incomplete fifth wave down in the Elliott Wave cycle, called for caution and confirmation.


However, Solana's ability to stay above $122 support levels in the coming days might put it up for further gains.


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