Solana’s (SOL) price trajectory lately shows bullish potential amid bearish market conditions.
Analyst @TedPillows shared their confidence in SOL’s potential to surpass $400 in the ongoing market cycle. This confidence is backed by detailed chart analysis and growing on-chain activity within Solana’s ecosystem. With an uptrend holding firm since mid-August, and utility expanding across AI, DeFi, and memecoins, SOL appears set for a rally.
@TedPillows highlighted Solana’s solid price movement, driven by a strong ascending trendline on the three-day SOL/USDT chart. This trendline, which has supported the price since August, shows no signs of weakening.
Despite brief pullbacks, SOL has consistently maintained higher lows, reflecting its robust bullish structure. Analysts believe this resilience places SOL ahead of other altcoins during volatile market phases.
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Solana Price Targets in Focus
The analyst has identified $225-$250 as a key short-term resistance zone for Solana. Breaking above this range could clear the path for SOL to reach $350-$400 during this market cycle.
On the downside, the $175-$180 support zone remains critical for maintaining the uptrend. Should SOL lose this level, a dip to $150 or lower might occur, although this scenario appears less likely.
One of the main drivers of the optimistic prognosis is Solana’s growing ecosystem. More users and developers are joining the blockchain’s network as a result of its growing use in industries like AI, DeFi, and memecoins.
According to @TedPillows, this activity is a strong indicator of long-term potential, driving market confidence and solidifying Solana’s position as a leading blockchain platform.
Read also: YouTube Analyst Shares ‘Realistic’ Cardano Price Prediction
Current SOL Market Overview
As of this writing, SOL’s price is $191.59, down 0.61% over the previous day and 7.98% for the previous week. The analyst is nevertheless hopeful about Solana’s success in the future, albeit these brief declines.
If it keeps up its current trend, Solana may reach the lofty $400 target, according to the technical and fundamental indicators. With a robust ecosystem and robust technical assistance, SOL’s future seems bright.
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