When Will Solana (SOL) Explode 🌋
Solana ($SOL ) has been steadily accumulating this year, reaching a key support level, and many are wondering if it’s ready for a breakout.
$BTC and Breakpoint Conference Catalysts
SOL's price largely depends on Bitcoin’s performance. However, Solana's upcoming Breakpoint conference, rumored to feature significant announcements, may serve as a catalyst. Despite no surge yet, SOL is holding above the 0.618 Fibonacci support at $129. If Bitcoin rises, altcoins like SOL could follow.
$SOL Climbing Again
After hitting a low at the bottom of a descending channel, SOL is now moving upward within an ascending channel. A potential return to the top of the trend line is expected.
Breakout on the Horizon
On the daily chart, SOL's price is close to a breakout point. A move above the descending trend line and 200-day EMA could signal upward momentum.
Positive Long-Term Outlook
Zooming out to the weekly chart, SOL shows potential for growth. If it breaks past key levels, SOL could aim for its all-time high of $260. The Stochastic RSI also indicates potential for strong momentum.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE
⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
