Solana (SOL) Price Analysis

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The above-mentioned catalysts are expected to fuel the SOL price rally, which could form a new ATH above $275 with less interruption. However, the question arises whether the price will reach $1000 in the upcoming bull run. If yes, when will the price reach its peak?

The above chart suggests the price is stuck within a descending parallel channel; however, the token is attempting a breakout as it heads towards the resistance. The volume remains within the average range, indicating enough participation of bulls and bears that may keep up the volatility. The RSI is displaying a similar recovery curve that it followed in the past few years but with a lowered intensity.

Therefore, the Solana price, which is stuck between 0.5 FIB & 0.786 FIB, is expected to maintain a consolidated ascending trend and reach the resistance around $180 in the next few weeks. Once the price rises above the descending consolidation and secures levels above 0.786 FIB, the next target could be to rise above the rising trend line, which is close to the current ATH at $260.

This move is expected to trigger a fine upswing that could transform into a bull run further with the potential target of $336 initially and later at $427. The Solana (SOL) price is expected to rise and reach $500, setting new highs, but reaching a four-digit figure appears to be a difficult task, which could be made easier if the bull run intensifies in 2025. $SOL