Solana Flashes Bullish Signals as Analysts Call Trend Flip, SOL Emerges As Top Gainer

Several analysts are closely watching Solana for signs of a trend reversal after an extended bear market. Traders like Decrypto Pharmacist are eyeing a potential inverse head and shoulders pattern that could propel Solana higher if it breaks key resistance levels.

Another prominent trader, David, tweeted that SOL will fly when it flips $22.48. Technical chartist Clifton notes Solana already broke out of a bullish flag pattern on the 4-hour timeframe, signaling upside momentum is building.

Providing an in-depth look, Altfins highlights how Solana recently rallied 20% after a falling wedge breakout, hitting resistance at the $25 level. With the cryptocurrency pulling back to test support around $20 and its 200-day moving average, this area marks a potential swing entry for traders betting on further upside.

Altfins sees Solana in an uptrend on short- and medium-term timeframes, with next resistance at $25–30, where bulls could target. Key support sits at $20 and $12 if the rally stalls.

At the time of writing, Solana is up over 6% as one of the top-performing major cryptocurrencies. While risks remain amid the bear market, analysts concur that there are encouraging signs of a trend change that could help Solana leave its recent lows behind. The coming weeks may determine if bullish momentum can be sustained.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.