Ethereum Analyst Shares Correlation With S&P500 \u2013 Last Dip Before It Hits $10,000?<\/a><\/div>\nOn the other hand, if the price drops below $180, it could signal a shift in momentum, putting the current uptrend at risk. For now, bulls must maintain control by keeping SOL above $180 while the broader market awaits the Fed\u2019s decision, which could impact risk sentiment and Solana\u2019s next move.<\/span><\/p>\nFeatured image from Dall-E, chart from TradingView<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"Solana has finally broken through a crucial resistance level that has kept the price subdued for months, sparking fresh optimism among investors. However, the breakout has yet to be confirmed, leaving room for excitement and caution.\u00a0 Prominent analyst and investor Carl Runefelt recently shared a technical analysis on Solana, highlighting that the cryptocurrency is on the verge of breaking out from a massive bullish pattern. According to Runefelt, if the breakout holds, this setup can propel SOL toward a $300 target in the coming months. Related Reading: Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance \u2013 Details The days ahead will be critical for SOL as market sentiment and trading volume determine whether this push is a sustained rally or a bull trap. For Solana to confirm this breakout, it must maintain its upward momentum and establish support above the previous resistance. Investors are closely watching these levels, as a failure to hold could lead to a retracement.\u00a0 However, if SOL can solidify its position, it could begin a powerful rally toward new highs. The outcome will shape Solana\u2019s trajectory as it attempts to secure a place among the top-performing assets in the crypto market. Solana Testing Crucial Supply\u00a0 Solana is currently testing a critical supply level, a zone that will either drive SOL to new highs or send it back into consolidation. After pushing above the $185 mark\u2014a key price level that now needs to hold as support\u2014Solana is poised for a significant move.\u00a0 According to top analyst Carl Runefelt, who shared his technical analysis on X, Solana appears to be breaking out from a massive Symmetrical Triangle, a well-known bullish chart pattern. In his view, a confirmed breakout above this level could trigger a rapid surge to $300, a move that he believes would “destroy bears” and reinvigorate bullish sentiment. However, the coming days will be crucial in determining Solana’s direction, especially as the Federal Reserve\u2019s interest rate decision is set to be announced today. If the Fed signals a rate cut or maintains current rates, it could fuel the rally by boosting risk-on sentiment in the market. A favorable environment from the Fed could lead to increased buying pressure on SOL, pushing it beyond its recent highs. Related Reading: Massive Bitcoin Short Liquidations Send BTC Above ATH \u2013 Trump Win Sets A Bullish Environment Conversely, if the $185 level fails to hold, SOL might re-enter a consolidation phase, temporarily stalling the upward momentum. For now, all eyes are on the Federal Reserve\u2019s decision and how it might impact broader market sentiment, which will play a critical role in determining whether Solana\u2019s bullish trajectory continues. A successful breakout here would not only confirm strength but could set the stage for Solana to challenge $300 in the coming months. SOL Technical Analysis\u00a0 Solana is currently testing the final resistance at $190, a crucial level that could pave the way for a challenge to its yearly highs around $210. For the bullish momentum to remain intact, SOL needs to break above and hold this level as support. However, achieving this may take several days as the market continues to digest the impact of Donald Trump’s victory and awaits the Federal Reserve’s decision on interest rates. If SOL fails to break above the $190 resistance, a consolidation phase between $180 and $190 could be healthy for price action. This range would allow the market to reassess and stabilize before making another attempt at breaking higher. However, it\u2019s important that the price remains above the $180 mark during this consolidation. If SOL holds above this level, the uptrend can continue, with a potential push toward yearly highs. Related Reading: Ethereum Analyst Shares Correlation With S&P500 \u2013 Last Dip Before It Hits $10,000? On the other hand, if the price drops below $180, it could signal a shift in momentum, putting the current uptrend at risk. For now, bulls must maintain control by keeping SOL above $180 while the broader market awaits the Fed\u2019s decision, which could impact risk sentiment and Solana\u2019s next move. Featured image from Dall-E, chart from TradingView<\/p>\n","protected":false},"author":617,"featured_media":652048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,83626,92246,93094,92707,92708,93333,89405,83627],"class_list":["post-652047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-solana","tag-solana-analysis","tag-solana-breakout","tag-solana-bull","tag-solana-bullish","tag-solana-bullish-pattern","tag-solana-news","tag-solusdt"],"acf":[],"yoast_head":"\n
Solana Breaks Above Key Resistance \u2013 Top Analyst Sets $300 Target<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n