Solana to Rise? Analyst Expects SOL to Rise Over 50% If Key Support Holds
As the cryptocurrency market fluctuates, observers watch Solana (SOL) for price changes.
Solana is trading close around $150, but new studies anticipate a big move.
Technical Patterns Point to Solana's Big Rise
Ascending triangle patterns might signal a bull rally, well-known crypto expert Ali predicted a 53% rise in Solana.
Solan price chart rising triangular pattern. | Source: Ali on X
This pattern is normally bullish, therefore Solana might gain significantly if it breaks over this upper resistance level.
Ali suggests short-term $143 support and $178 resistance on Solana's chart. Such levels shape the asset's short-term market orientation.
Support may become opposition and vice versa. Bullish price movement is expected if the price holds or breaks resistance.
Ali added a breakthrough from those key levels may boost Solana's market value by more than 50%, comparable to other assets.
Solana has fallen 7.6% to little about $146, extending its 20% decline from the previous week.
A notable crypto expert said that Solana would continue to fluctuate between $185 and $120, signaling a protracted consolidation period.
This stability is a normal corrective after its big surge. The analyst is hopeful, “expecting bigger things later.”
Solana's price rise confidence goes beyond technical analysis. NewsBTC recently quoted IntoTheBlock on-chain statistics showing that Solana daily active addresses grew by 1.1 million on June 11.
High network traffic typically indicates higher use case and user adoption, which predicts price rises.
Cultural influence on Solana's commercial standing is notable. Investors and celebrities including Iggy Azalea, Caitlyn Jenner, and Andrew Tate have used the network.
