Solanas Chart Signals a SurgeHow High Could It Climb?
- Solana rebounded from $142 support and gained 25% in a week, reaching $178.66.
- Analysts target resistance between $195$218, with bullish projections up to $617 or even $1,016.
- About $165 million in cross-chain liquidity flowed into Solana, driving daily DEX volume up to $3.36 billion.
Solana is showing new strength after bouncing off critical support, drawing attention from market watchers. Technical analyst Master Ananda recently noted a recovery pattern that could open the door to major gains. At the time of his analysis, the token traded at $178.66 after gaining 25% in one week.
A broadening wedge formation is shaping up, with support found near the $142 mark. This area aligns with the 0.236 Fibonacci retracement level, which held steady during the recent correction. The bounce from this support, along with higher lows in the chart, points to buying pressure returning after a cooling period.
Anandas chart highlights a potential resistance zone between $195 and $218. These levels represent the 0.5 and 0.618 Fibonacci retracement levels, which often act as barriers before larger moves. If price clears this range, his next targets lie at $252 and $295.
Solana May Rise Above $600
Anandas most optimistic view puts SOL between $418 and $617 in the coming months. He identified these targets using 1.618 and 2.618 Fibonacci extensions. He stated that within just a few months, Solana could hit these levels if current trends remain strong. Further upside, in a more aggressive scenario, might lead to $817 or even $1,016, depending on how the broader market moves.
Another analyst, known as curb.sol, observed a bullish pennant forming on the 1-hour chart. According to him, $200+ coming soon, signaling strong expectations for a short-term breakout. His chart shows consolidation between $168 and $175, following a steep rally often referred to as a flag pole.
Bullish pennants often signal a continuation of an uptrend. Curb.sol believes that Solana is nearing a breakout, projecting a move up to $200, which would be a gain of about 15% from its current level. His chart highlights this forecast with a green arrow pushing above the $200 mark, reflecting his bullish stance.
Liquidity Flows Support Price Momentum
Beyond charts and predictions, the real-world data supports this positive setup. Over the past month, $165 million in liquidity has been transferred into Solana from outside blockchains. Ethereum led with $80.4 million in bridged funds, while Arbitrum followed with $44 million. Base contributed $20 million, BNB Chain $8 million, and Sonic $6 million.
Activity on decentralized exchanges also supports this trend. According to DefiLlama, Solana processed $3.36 billion in DEX volume over just 24 hours. That gave the network a 23.10% share among all chains, topping other competitors in the DeFi space.
This strong market share reflects growing user trust and Solanas ability to handle scale. Between high volumes, large liquidity inflows, and bullish chart formations, all signs point to a potential strong move ahead. If buyers stay active and resistance levels are cleared, the high targets outlined by analysts may not be far off.
Read More | SUI Price Prediction: Why $4.06 Could Mark the Start of a Major Rally
Read more: https://www.tronweekly.com/solanas-chart-hints-at-a-surge/
Text source: TronWeekly
