Solana (SOL) Price Prediction: SOL Brags Above $180, Breaches Bearish Pattern, Suggests a Massive Bullish Rally is Fast Approaching

The rise in the volatility suggests the SOL price is preparing for a 50% in the next few months, aiming to form a new ATH above $300

Solana price not only boasted above $180 but also breached above the bearish pattern, which hints at a massive bullish rally approaching quickly. The rise in volatility suggests SOL price is preparing for a 50% upswing in the next few months, aiming to form a new ATH above $300.

The market participants have become extremely bullish over the crypto space, with Donald Trump winning the U.S. presidential elections. Bitcoin price surged to hit a new ATH above $75,000, which helped Solana price rise above $180 with enough bullish support. Moreover, DeFi TVL hits $6.4 billion as Raydium surges by 28%, with a decent rise in the number of daily transactions.

Solana (SOL) Price Analysis

SOL price was stuck within a descending parallel channel and faced multiple failed attempts at piercing above the resistance. However, the positive rounds across the markets have initiated a strong ascending trend, which is believed to elevate the levels beyond $200 in the next few days. This may increase the possibility of a new ATH above $270 before the end of the year, and the price holds the potential to begin a 30% upswing thereafter.

The weekly chart of Solana suggests the price is at the foothill of explosion as the token rises over a crucial range. Moreover, the breakout has elevated the levels above the bull flag, which may trigger a strong upswing. One of the major bullish indicators is the bullish crossover of the Ichimoku’s conversion & base line. Previously, when such a crossover occurred, SOL price surged by over 1000%, elevating the levels from the levels below $20 to as high as $200. Moreover, the RSI is also following a parabolic recovery, which reflects strong bullish backing from the bulls.

Solana Flipped BinanceCoin To Become 4th Largest Cryptocurrency

Solana flipped Binance Coin in terms of market capitalization to become the 4th largest cryptocurrency. While Bitcoin price appears to be primed to mark $100K in the upcoming bull run, SOL price is also believed to mark a 4-digit figure as the token is about to break a bullish pattern, which may ignite a 100% rally to reach $500 in the upcoming bull run. Meanwhile, the possibility of reaching a 4-digit figure also remains elevated, as Solana price has just flashed fresh bullish signals after 12 long months.

Therefore, Solana’s (SOL) price appears to be primed for a 50% upswing initially to reach $300, which may further push the prices higher depending on the market dynamics.

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