Solana (SOL) is currently trading above $150, marking a 13% increase since last Thursday, as it approaches the significant $160 resistance level, a point it hasn't reached since early August. This movement is spurring interest and speculation about its future trajectory.
Analyst Carl Runefelt sees the formation of a bullish pattern in Solana's price action. He suggests that this could pave the way for SOL to reach new all-time highs (ATHs), contingent on breaking and closing above this critical resistance level.
Additionally, Solana has risen above the 200-day moving average at $151, indicating further potential strength in its upward movement. A successful close beyond $160 could signify a challenge to the yearly highs, which are approximately $210.
