Crypto analysts forecast a 53% surge for $SOL if it surpasses $178 resistance. This bullish forecast is based on the ascending triangle pattern visible on Solana’s price chart, a technical indicator often associated with bullish market sentiment. If $SOL continues the current uptrend momentum and successfully breaches the upper resistance level, it would set the stage for incredible gains shortly.
The key levels that will decide the short-term market direction of Solana are the $143 support and the $178 resistance. A price above $143 support or above $178 resistance can trigger the expected bull run. As such, if Solana trades above the support level or breaks above the resistance, the following move in the price will be a sure validation of the forecast of a huge price rally, as has been witnessed many times in other assets in similar conditions.
$SOL has recently experienced a 7.6% decline, contributing to a nearly 20% drop over the past week. Notably, seasoned analysts view this price movement as a period of consolidation, with fluctuations expected between $185 and $120, representing a natural correction after Solana’s recent substantial rally. Optimism surrounding Solana’s potential price increase is further reinforced by growing network activity, as data from IntoTheBlock indicates a surge in daily active addresses on Solana, which often precedes price hikes and reflects enhanced utilization and user adoption.
