Solana is trading above $140 and showing potential for further gains. Analysts, like Carl Runefelt, predict a 20% increase, possibly reaching $176 if the current bullish trend persists. This optimism follows a 5% increase that has sparked investor interest in Solana's future price action.
Technical analysts identified a bullish triangle pattern in Solana's price chart. If SOL breaks out of this pattern, it could see significant upward movement. This pattern, combined with recent trading above the daily 200 EMA, indicates strong trend momentum.
Challenges remain, as Solana faces resistance at the $160 level. Any failure to hold its current trend may lead to corrections, possibly pushing the price to $110. The market's volatility makes investors cautious despite the bullish outlook.
Solana's price path is being closely monitored as it trades between $210 and $110. A breakout above key trends could mean new highs for SOL, consolidating its status as a top altcoin if its momentum sustains through the year's end.
