#Solana Price Prediction: Rounding bottom pattern prepares $SOL for breakout

After completing a rounding bottom pattern, solana price may become bullish.

SOL might set a new high at $ 224.14 if it breaks above the technical formation.

A candlestick closing below $80.00 would disprove bullishness.
Like Bitcoin (BTC), Solana (SOL) has fallen below $65,000 in the market crisis. SOL, a fantastic cryptocurrency, may make a significant move as it looks to reverse bullishly.

#Solana price flirts with rounding bottom.

Solana prices fell 98% from November 2021 to January 2023. After a short horizontal consolidation, the bulls seized control and formed a rounded bottom pattern.

Rounding bottoms are bullish reversals following protracted downtrends. The price action creates a “U” shape, signaling a long-term shift from bearish to bullish, with a price decrease losing pace, a slow recovery, and a breakthrough to the upside.

Solana price might rise into the $197.70–$250.21 supply zone if $130.45 maintains. Breaking and closing above its weekly midline at $224.14 would confirm the major trend.

Solana pricing might turn the supply zone into a support or bullish breaker by reclaiming the all-time high at $259.90 and setting a higher high.

The Solana price is more likely to rise if the Relative Strength Index (RSI) is over 50. A rebound from this momentum signal above the 50 mean line might initiate a fresh uptrend for SOL.

The Santiment volume measure is growing, indicating greater interest and activity in SOL, supporting the bullish argument. Liquidity, market involvement, and price swings may increase.

Over the last week, Solana talks have increased, and confidence about the coin has grown along with quotes.

Santiment analysts saw an increase in Bitcoin, Ethereum, and Solana talks on April 9, with BTC facing a halving event in four days, highlighting Ethereum and Solana values.

Solana price might fall to $80.00 if bears break resistance at $130.45. A candlestick closing below this level would disprove bullishness.

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