The formation of a bullish flag does not exclude the growth of Solana to $160
Many assets in the cryptocurrency market have moved into the green zone, and Solana (SOL) is no exception, as the coin grew by 6.7% on the day, following Bitcoin.
On the hourly chart, Solana is showing signs of forming a bullish flag and âa decisive close above the $110 resistance could be the catalyst for a significant move higher,â says cryptocurrency expert Ali Martinez.
According to Martinez's analysis, Solana could also "head toward a more ambitious $163 target" by the end of the month, provided the fifth-largest crypto asset by market cap manages to maintain its current pattern.
Solana is currently trading around $100, providing a market capitalization of $43.7 billion with a trading volume of about $4 billion. The cryptocurrency's weekly price is in the red by 10.1%, with a 30-day gain of more than 36%.
