This article is also available in Spanish. Solana's (SOL) share price has finally broken through the $160 resistance line, a key level that has held the price since early August. The breakout was a confirmation of the uptrend and caused excitement among investors as Solana continued to rise.
As the market shows renewed optimism, analysts have set bullish price targets for Solana's next potential move.
Lead analyst and investor Karl Runefelt recently shared some valuable thoughts on Solana's prospects, boldly predicting that #Solana could hit $370 in the coming months. He believes that the altcoin is poised for significant growth if Solana breaks above its current bullish high on the timeframe.
Investors are closely watching for confirmation of this bullish trend and expect further gains as Solana's price movement gains momentum - Solana's recent breakout and positive market sentiment suggest that the company is poised for good results in the near future.
Solana could reach new highs for the year or even historical highs. The bullish market sentiment continues to point to good results for #SOL in the coming months.
Crypto analyst Karl Runefelt recently conducted a technical analysis of X and said that Solana could follow a parabolic trajectory starting today. He emphasizes that SOL is coming out of a massive cup-and-handle pattern. If this pattern is triggered, Solana could rise to a target level of $BTC the cup-and-handle pattern is known for its reliability in showing strong price moves, especially if the handle completes and breaks out to the upside; in the case of Solana, this breakout could lead to a significant price move, pushing it to new highs. As the cryptocurrency market continues to gain momentum, SOL investors are optimistic about the potential for price gains in the coming days.
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Given the bullish sentiment surrounding Solana, the next few weeks could be crucial in determining whether SOL can maintain its trajectory to new highs.
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