When Will Solana (SOL) Explode đ
Solana ($SOL ) has been steadily accumulating this year, reaching a key support level, and many are wondering if itâs ready for a breakout.
$BTC and Breakpoint Conference Catalysts
SOL's price largely depends on Bitcoinâs 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.
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