Solana (SOL) shows strong signs of a major price rally, with analysts pointing to technical levels that could propel the asset toward key price targets.
An analysis by @CryptoELlTES highlights that Solana has decisively broken above its long-term descending trendline from 2021, a move that signals the potential for explosive price action. @CryptoELlTES suggests that SOL could soon enter price discovery, targeting levels as high as $450, $678, and $1,099.
Solana Prepares for a Massive Move!
— @CryptoELlTES (@CryptooELITES) January 24, 2025
The 2021 downtrend has been broken, and Solana is holding above it.
Here are my targets:
1️⃣ $450
2️⃣ $678
3️⃣ $1,099
◾️The technical outlook is fully positive—big moves ahead! #Solana $Solana #Sol $Sol https://t.co/qsEPRJeSmu pic.twitter.com/FmL2gIcLA0
According to an analysis of @CryptoELlTES’ chart, Solana has breached a descending resistance trendline dating back to its 2021 cycle peak. This breakout confirms a structural reversal, turning prior resistance into support.
This shift strengthens the bullish case for SOL, as it aligns with the classic breakout-retest strategy. The formation suggests the price could sustain its upward momentum, provided it holds above the key breakout zone.
What you'll learn 👉
SOL Patterns Signal Continuation Toward Higher Targets
Chart patterns further support the bullish case for Solana. The chart displays a Cup & Handle pattern, a formation known for signaling strong continuation trends.
The rounded bottom (Cup) represents a prolonged accumulation phase, while the Handle portion reflects consolidation before a breakout. If the pattern completes, SOL could see an aggressive move toward higher price levels, with potential targets at $400, $680, $1,000, and $1,600 as noted by the expert.
One of the key confirmations of this bullish outlook is the surge in trading volume, indicating strong buying interest. High volume during a breakout often validates its strength, reducing the likelihood of a false move.
Read also: How Much Will 130 Raydium (RAY) Tokens Be Worth in 2025?
Solana’s Price Action Reflects Market Optimism
As of the latest data from CoinGecko, Solana is trading at $249.16, with a 24-hour volume of $8.03 billion.
Despite a 4.43% decline in the past day, SOL has gained 9.06% over the past week. @CryptoELlTES remains optimistic that, should the breakout sustain, Solana could be on track for a parabolic rally toward its next major targets.
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