Solana Sets Sights on $350: Is a Breakout Imminent?

After a 33% drop from its late November high of $264, Solana (SOL) is in turmoil. Solana shows endurance and a solid long-term prognosis despite the recent drop.

Famous crypto researcher Carl Runefelt has discussed X, stressing SOL's attractive technical structure. Runefelt claims Solana retested a large weekly triangular pattern. This important retest shows Solana's price movement is intact and might begin a major surge soon.

Bulls have optimism since Solana has maintained its structural integrity throughout market corrections. SOL may rebound and reach new highs if it maintains its present levels and pace. Solana's response to this technical warning might determine its future in the next weeks.

Bullish Solana Structure

Despite a 30% retrace from its all-time high, Solana (SOL) remains positive on higher timeframes, indicating long-term strength. This resiliency gives experts and investors hope that Solana will excel when the market recovers. Trading enthusiasts awaiting the next cryptocurrency rise choose SOL because of its solid fundamentals and quick acceptance.

Top crypto analyst Carl Runefelt recently released a comprehensive technical analysis of X, suggesting an optimistic trend for Solana. Runefelt said SOL retested a large weekly triangle formation, a key milestone for its bullish trend.

He predicted a $330 cryptocurrency increase if Solana can remain over $180 in the next weeks. Solana is expected to lead the next market rise.

However, market uncertainty persists. Market leader Bitcoin has failed to recoup $100K, and traders remain pessimistic. This uncertainty threatens altcoins like Solana, which rely on Bitcoin's strength to rally.

Solana is at $185 after sustaining the 200-day exponential moving (EMA) at $175. SOL's defense of this critical level suggests bullish potential.

Despite market volatility, Solana makes higher lows weekly, indicating a good trend.

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