Solana’s Rally Gains Traction – Why Its Price Could Surge To New ATHs

With the market turning increasingly bullish, Solana continues to demonstrate resilience and upside momentum, holding strongly above the $200 price ￰0￱ SOL’s price gains traction, key indicators are beginning to signal the potential for further upward movement in the short and long ￰1￱ Impending Move For Solana To $275 And $300 Solana has reclaimed above the $200 price level once again following the recent market resurgence. Meanwhile, many crypto analysts believe that this could be the time for the leading altcoin to enter a parabolic phase and hit new all-time ￰2￱ Reading: Solana Is Not Dead? This Upper Boundary Retest Could Set The Stage For $268 In an X (formerly Twitter) post , Darkfost, an author and on-chain expert at CryptoQuant, has outlined key indicators that point to a bigger move on the ￰3￱ that indicators are turning strongly bullish , Solana’s current course puts it in an excellent position to regain market dominance in the upcoming ￰4￱ to the on-chain expert, SOL continues to rise in silence as investors appear to be concentrating on ￰5￱ though ETH has surged significantly to a new all-time high, Darkfost highlights that SOL might be gearing up for a similar upswing to a new all-time high in the near ￰6￱ examining Solana ’s chart in the 1-day time frame, the expert revealed that the 21- and 50-day Exponential Moving Averages (EMAs) remain upward-sloping, acting as support above the 200 EMA, which is beginning to curve ￰7￱ positioning indicates resilience and growing strength for an ￰8￱ also highlighted a positive development in the Relative Strength Index (RSI) indicator.

Presently, the RSI indicator is holding strongly above the 50% level, suggesting a positive ￰9￱ chart is showing that SOL has formed two key formations , such as the Broadening Megaphone structure and the Harmonic BAT ￰10￱ the upper limit of the megaphone structure sits around $300, the harmonic BAT pattern with a strong daily close above the neckline is targeting the $275 ￰11￱ the price quietly increases, a short-term range is being ￰12￱ noted that a verified daily close above $210 should signal the start of the next bullish wave (3), with a minimum objective (1-1.27) between $250 and $300. This aligns with both the BAT target and a strong liquidity zone starting at $275.

Indicators Signaling Significant Upside Potential This newfound strength of SOL following the market resurgence goes beyond the 1-day time ￰13￱ the larger outlook, particularly the 1-week time frame, Darkfost has also highlighted the growing momentum in the ongoing Solana ￰14￱ Reading: Ethereum Vs. Solana: Arthur Hayes Picks His Winner For This Cycle Unlike the 1-day chart, the altcoin has reclaimed the 21 EMA and 50 EMA, both of which are rising after challenging the 200 ￰15￱ weekly RSI is experiencing a persistent upward move above the 50% level, with notable upward potential before moving into overheated territory. Furthermore, this week’s weekly close also confirms the emergence of the harmonic BAT ￰16￱ these indicators, SOL appears to still have a lot of room for growth in the near and distant future, while it is still lagging behind the second-largest crypto asset, Ethereum .