Crypto analyst and investor Carl Runefelt recently shared a technical analysis indicating that Solana’s current price action remains bullish as long as it sustains support above this mark. 

Solana’s ability to turn former resistance into a support base reflects increased demand, which could act as a catalyst for further upward momentum. The market is closely monitoring these movements, and the next few days are expected to be crucial for Solana.

If SOL maintains its trajectory above $171, it may spark optimism for an extended uptrend. Investors will likely keep a close eye on Solana’s price dynamics, as any shift below this level could alter the short-term outlook for one of crypto’s most promising assets.

Solana Testing Liquidity

Top investor Carl Runefelt recently shared his insights on X, highlighting the significance of Solana’s head and shoulders pattern. In his analysis, Runefelt noted that a successful neckline retest would confirm the bullish trend’s strength. 

Runefelt’s chart analysis further indicates that as long as SOL remains above the neckline, bullish momentum is expected to persist, with his target price set at $202 in the short term.

This potential upward movement has caught the attention of both investors and traders who are looking at the $202 level as an achievable target if the current bullish trend continues. Runefelt’s analysis underscores that the neckline acts as a critical support level—one that, if maintained, could drive strong buying interest. However, any break below this neckline could shift the momentum, potentially leading to a more cautious outlook.

With the head and shoulders structure forming, Solana’s price action will be crucial in the next few days. A successful retest of the neckline could fuel continued growth, possibly pushing SOL to new highs.

SOL Price Action

Solana (SOL) is trading at $172, steadily climbing as it targets a higher supply zone. To maintain this bullish momentum, SOL bulls need to push the price above the critical $180 resistance level. This $180 mark acts as a key resistance, and breaking it could potentially trigger a wave of FOMO (fear of missing out) buying, which would drive the price even higher. This psychological level may attract increased interest from traders who see a clear breakout as a signal for more gains.

However, maintaining this bullish trend is essential. If SOL cannot maintain support above $171, a retracement to lower demand zones is likely. This move could bring SOL back to test support levels closer to previous lows, possibly slowing down the current momentum.

For traders and investors watching closely, the next moves around the $171 and $180 levels are key indicators. A strong push past $180 could suggest continued strength in Solana’s price action. A drop below $171 would signal weakness, indicating a temporary pause or pullback in the recent rally.

Featured image from Dall-E, chart from TradingView

Analysts and investors are increasingly optimistic about Solana’s potential, with many forecasting continued upward momentum in the weeks ahead. Notably, prominent investor Carl Runefelt recently shared a technical analysis on SOL, highlighting a breakout from a bullish pattern that could signal massive gains for the cryptocurrency.

With this breakout, price action remains firmly bullish, indicating that the next major target for SOL is around the $185 level, where it will encounter local supply. If momentum holds, Solana could soon challenge this key resistance, further solidifying its place as a leader in the current market cycle.

Solana Breaking Out Of Cup&Handle Pattern

Solana is breaking out from a classic “Cup & Handle” pattern, often associated with strong bullish moves. This pattern has caught the attention of top analyst Carl Runefelt, who recently shared his technical analysis on X, indicating that Solana’s recent price action aligns with a breakout from a descending channel. 

According to Runefelt, this setup signals that Solana could be ready for a significant upward move. He shared a chart with a potential price target of $370, suggesting a substantial 115% surge from current levels.

Runefelt’s optimism stems from the Cup & Handle pattern, where the price consolidates after an uptrend and then forms a small dip (the handle) before breaking out. This pattern is known to attract strong buyer interest, representing a period of consolidation and momentum building. 

However, while the breakout is promising, it may take some time to fully play out, as the entire crypto market appears to settle before its next significant move. Solana has consistently outperformed in this cycle, with price action and volume reflecting sustained investor interest. 

With Solana pushing through key resistance levels and establishing a solid foundation, the potential for a bullish continuation is high. If the breakout confirms and Solana’s momentum holds, the next weeks could see SOL pushing into new heights, solidifying its position as a top-performing altcoin and meeting investors’ bullish expectations for substantial gains ahead.

SOL Testing Crucial Supply 

Solana is trading at $171, maintaining a strong uptrend with a well-defined bullish structure over the past two weeks. This level represents a key demand zone that previously acted as resistance, signaling a potential for higher gains if the price holds steady. A continued hold above $171 would support further bullish momentum, potentially pushing SOL toward the next significant supply area at $185.

However, should SOL lose the $171 support, a retrace to around $160 is likely. This level has been pivotal in the past weeks, serving as a strong resistance point that capped previous price attempts to rise, creating a solid foundation for renewed bullish interest. A move down to $160 wouldn’t necessarily break the overall uptrend but would offer an opportunity to consolidate before the next push higher.

As investors and traders watch these levels closely, the $171 mark will be an immediate gauge of strength. Holding above it keeps the uptrend intact, while a dip to $160 would still offer support for Solana’s longer-term bullish outlook. SOL’s resilience in these levels reflects the optimism surrounding the asset’s potential in the weeks ahead.

Featured image from Dall-E, chart from TradingView

Top analyst Carl Runefelt recently shared a technical analysis suggesting a potential surge for SOL in the coming days, with a target of $176. His analysis highlights key bullish patterns, but concerns about the broader market correction could drag Solana down if the correction intensifies.

With the market in flux, the next few days will be crucial for SOL. Investors watch closely for signs of strength or weakness that could influence the price action. While optimism remains for a potential surge, caution is warranted as the market correction unfolds.

Solana Testing Previous Supply As Demand 

Solana is currently at a critical level, holding strong above $160, a price that had previously acted as resistance since early August. SOL has broken above this level and found support, so it signals a potential shift in the monthly trend that has kept the price suppressed. Investors are watching closely to see if this shift will lead to continued bullish momentum.

Crypto analyst and investor Carl Runefelt recently shared a technical analysis on X, offering insight into Solana’s short-term outlook. He revealed a 1-hour chart showing a symmetrical triangle, a bullish pattern often preceding strong price movements. 

The upper line of this triangle sits around $168, and Runefelt suggests that if SOL manages to break above this level, the next target would be $176. This would mark a significant push to new local highs, further solidifying Solana’s bullish trend.

As Solana continues to hold above $160, the market is waiting. Investors are exercising patience and are aware that the next few hours and days could be pivotal for SOL’s price action. 

If the bullish pattern materializes and the price breaks out, it could lead to a significant rally. However, until that breakout occurs, traders are cautious, knowing that short-term volatility could still impact Solana’s performance.

Technical Levels To Watch 

Solana is currently trading at $165 after facing a rejection from the $171 mark, a key resistance level that may hold the price down for a few days or weeks. Despite this setback, SOL has shown resilience, rebounding strongly from the daily 200 moving average (MA) at $150 and successfully breaking past the $160 resistance. This breakout is a significant development, signaling a potential upside once the broader market begins pushing up again.

Holding above the $160 level is crucial for SOL, reflecting investor confidence and signals strength in the price action. Holding this support level would signal optimism about Solana’s ability to rally and reach new yearly highs in November.

The coming days will determine whether SOL can keep bullish momentum or if a prolonged consolidation below $171 is in. Investors are closely watching for signs of strength and a continued push higher.

Featured image from Dall-E, chart from TradingView

Despite the recent fluctuations, bullish sentiment surrounding Solana remains strong among analysts. Many are projecting new all-time highs above its previous record of $259, set in November 2021.

Analysts Eye Potential Bullish Breakout

In the past 24 hours, Solana has rebounded nearly 3%, although trading volume has dipped by about 2%, according to data from CoinGecko. This decline in volume indicates that despite some profit-taking, bullish investors continue to show interest, particularly after the recent retracement. 

Crypto analyst Byzantine General has noted that buying pressure appears to be strengthening at lower support levels, with traders eager to capitalize on dips experienced by the Solana price in the short term.

Looking at the bullish predictions, Captain Faibik recently suggested in a social media post on X (formerly Twitter) that Solana is poised for a “bullish pennant” breakout following a prolonged consolidation period observed on the 3-day SOL/USDT chart. 

Faibik believes that a successful breakout from this pattern could propel Solana to a new all-time high of $400 within the current bullish cycle, expected to last at least through the first quarter of 2025. However, this forecast is somewhat conservative compared to the more audacious prediction from market expert Crow. 

How The Solana Price Could Reach $800

In a separate social media post, Crow indicated that the Solana price could surge by approximately 400% during this bull run, recalling the previous price actions of the 2021 uptrend. 

The expert highlighted that the last bull cycle featured two distinct phases: the rise from $3 to $50 and another jump from $25 to $250. He notes that Solana has progressed from $16 to $200 this time, and he foresees a possible climb from $200 to $800.

Despite the bullish predictions, it is important to recognize that bull cycles do not typically progress in a straight line. Historical data illustrates this point, with Solana experiencing significant retracements of over 20% on August 5 and September 6, respectively.

To navigate these fluctuations effectively, it is essential to analyze SOL’s daily chart and identify key support levels that, if maintained by bullish investors, could help prevent further declines.

In the event of a deeper correction, the first crucial support level to watch is the $160 mark. Additional support levels are identified at $153 and $145.

The most significant support, however, is located in the $127 zone. This level has proven resilient throughout the token’s consolidation phase in past months, effectively halting further price declines and safeguarding the critical $100 mark.

Featured image from DALL-E, chart from TradingView.com

New Staking Rules For VanEck’s Solana ETN

Matthew Sigel, head of digital asset research at VanEck, revealed that the Solana ETN, which trades under the ticker VSOL and currently has $73m in assets under management, will have rewards accrued and reinvested daily under the new staking rules, with the ultimate aim of attracting more investors and new capital. 

On the other hand, VanEck’s press release outlined how the staking process works for the Solana ETN. Importantly, the staking methods are designed to be non-custodial, meaning that the custodian of the ETN’s assets retains full control of the staked SOL, thereby eliminating lending risks typically associated with crypto investments.

In addition, investors in the Solana ETN will not need to take any action to receive staking rewards. These rewards will be accounted for in the coin entitlement of the ETN, ensuring equitable distribution regardless of when the investment was made, minus a 25% staking fee.

The staking rewards will be reflected in the daily end-of-day net asset value (NAV), with a cutoff point at 4 PM CET, allowing investors to benefit from staking without the “complexities�usually involved in managing crypto assets directly.

The firm also instructs its custodian to delegate SOL to a validator node owned and maintained by a staking provider. Importantly, control of the delegated SOL remains with the custodian, ensuring security and stability.

Once the SOL is delegated, the validator node earns various rewards, including inflationary and block rewards, accrued continuously. These rewards will be reinvested into the ETN daily, contributing to its overall performance. 

SOL Price Prediction

The fifth-largest cryptocurrency, has shown significant price action over the past month, gaining approximately 10% and currently trading at $164.50. This recovery follows a significant drop to around $109 on August 5, signaling a strong rebound amidst a generally bullish market sentiment.

Market expert Carl Runefelt recently highlighted Solana’s potential for further gains in a Monday social media post, stating that the token could “go parabolic starting today.” 

Runefelt pointed out a significant technical pattern on the SOL/USDT daily chart, identifying a breakout from a “Cup and Handle” formation. This bullish pattern often signifies a strong upward momentum, with Runefelt projecting a potential price target of $370.

Achieving this target would mean Solana surpassing its all-time high of $259, set in November 2021. This bullish outlook aligns with other analysts’ broader bullish predictions for the cryptocurrency market, particularly Bitcoin, which is also expected to hit new highs in the coming months.

Featured image from DALL-E, chart from TradingView.com 

With the market showing renewed optimism, analysts set bullish price targets for Solana’s next potential moves.

Top analyst and investor Carl Runefelt recently shared valuable insights on Solana’s outlook, boldly predicting that Solana could reach $370 in the coming months. He believes that the altcoin is set for a significant rally once Solana breaks above its current high timeframe bullish pattern. 

Investors are closely watching for confirmation of this bullish trend, anticipating further gains as Solana’s price action gains momentum. Solana’s recent breakout and positive market sentiment suggest a strong performance shortly.

Solana Prepares For A Rally

Solana is on the verge of a move, potentially reaching yearly or even all-time highs. The bullish outlook across the market continues to signal positive gains for SOL in the coming months. 

Crypto analyst Carl Runefelt recently shared a technical analysis on X, stating that Solana could go parabolic starting today. He highlights that SOL is breaking out of a massive Cup & Handle pattern, a classic bullish formation often seen on higher timeframes. Solana could rally toward a potential target of $370 if this pattern plays out.

The Cup & Handle pattern is known for its reliability in signaling strong price movements, particularly when the handle completes and breaks upward. In Solana’s case, this breakout could lead to substantial gains, pushing the price to new highs. As the crypto market continues with momentum, SOL investors are optimistic about the potential price surge in the coming days.

With the bullish sentiment surrounding Solana, the next few weeks could be crucial in determining whether SOL can maintain its trajectory toward new highs. Investors may see significant returns if Solana breaks out and benefits from the market’s bullish sentiment.

SOL Testing Supply 

Solana trades at $166 after successfully breaking above the key $160 resistance level. However, it faced rejection at the $171 supply zone. This level previously acted as minor support in late July and is now a resistance. 

If SOL manages to break above this resistance, the next target would be a higher supply level (around $188), where investors are likely to take profits or reposition.

While the recent price action suggests strength, a healthy retrace to test the previous $160 resistance as support wouldn’t surprise investors. Such a pullback could provide a stronger foundation for SOL’s continued bullish momentum. 

The overall market sentiment remains optimistic, with many cryptocurrencies experiencing upward movement, which could further fuel Solana’s price action.

If SOL holds above $160, it could confirm the next rally, positioning Solana for a surge in the coming weeks. Breaking through the $171 resistance will be critical in determining whether SOL can maintain its bullish trajectory.

Featured image from Dall-E, chart from TradingView

The crypto community is closely watching these developments, as breaking through this key resistance could lead to substantial gains for the altcoin.

Top analyst and investor Carl Runefelt recently shared a technical analysis that paints an optimistic picture for Solana’s price action in the next few hours. According to Runefelt, the weakening resistance could pave the way for a breakout, with bullish momentum carrying SOL to higher targets. 

While the market remains volatile, confidence in Solana’s ability to overcome current challenges is growing. If the supply level is breached, it could mark the start of a new upward trend, making SOL a focal point for traders looking for opportunities in the current market landscape. 

The next few days will be critical in shaping Solana’s trajectory, as investors will closely monitor whether the price will confirm the anticipated rally.

Solana Bullish Pattern Signals Momentum

The entire crypto market is experiencing heightened volatility, and Solana has not been immune to it, with its price fluctuating between $148 and $160 since Monday. This consolidation phase has left traders eager to see which direction the altcoin will take in the coming days.

Runefelt recently shared a technical analysis on X, highlighting that Solana is breaking out of a 1-hour Falling Wedge pattern, a bullish signal.

The immediate upside target is $159.6, a level that, if broken and sustained, could lead to a massive surge toward $185—a significant move that would position Solana near its yearly highs.

Despite this bullish setup, the market remains cautious, and there is still the risk that Solana could fail to reclaim key levels. If the price struggles to break and hold above the $159.6 resistance, the current consolidation could persist or even lead to a potential pullback, with downside targets near $148. Such a scenario would disappoint bulls looking for a rally and could dampen market sentiment temporarily.

A confirmed breakout and sustained momentum could signal the beginning of a new bullish phase, attracting both retail and institutional investors. 

However, the risk of a failed breakout looms, keeping market participants on edge. Traders are watching closely as Solana’s next move will likely set the tone for its performance over the next few weeks. If it breaks through resistance, SOL could be well on its way to challenging yearly highs.

Technical Levels To Watch

Solana is currently trading at $154 after finding support at the 200-day moving average (MA) at $150.7, a critical level that signals long-term strength if it holds as a demand zone. This MA has historically acted as a key indicator for market trends, and holding above it would reinforce the bullish outlook for SOL.

For bulls to maintain momentum, the price must stay above the 200-day MA and push to break the crucial $160 resistance, a level that has capped Solana’s upward movement since early August. Breaking through this resistance would signal a potential surge in price, opening the door to further gains in the coming weeks.

However, if SOL fails to hold above the 200-day MA and cannot overcome the $160 resistance, it risks a corrective move. A drop below the 1D 200 MA could lead to a decline toward $140, a level that will play a pivotal role in determining the next phase of Solana’s price action. 

Bulls and bears alike are closely watching these key levels, as the next move could set the tone for Solana’s performance in the near term.

Featured image from Dall-E, chart from TradingView

TD Sequential Flashes Buy Signal At $2.5

As Ali Martinez noted, the TD Sequential has been highly spot on with predicting trends in the price of Dogwifhat for a while now. The TD Sequential indicator consists of two phases: a setup phase, which generates a count from 1 to 9 based on a specific price, and a countdown phase, which also counts down based on previous price action. 

Martinez shared insights from the WIF/Tether US 4-hour candlestick price chart, illustrating that the TD Sequential indicator has consistently delivered accurate buy and sell signals for Dogwifhat since the beginning of October. As it stands, the indicator is now pointing toward a buy signal. For a buy setup on the TD Sequential, the current candle’s close must be lower than the close of the previous four candles.

At the time of writing, Dogwifhat has experienced a correction of approximately 14% over the past three days, having peaked at $2.958 on October 14. However, the TD Sequential on the 4-hour candlestick chart is now pointing towards the continuation of a larger upward trend for the rest of the month.

What’s Next For The Dogwifhat Price?

Dogwifhat’s popularity kicked off in early 2024 when the meme coin community enthusiastically dubbed it the “Shiba Inu Killer.�Dogwifhat, which started the year around $0.15, was shot into the spotlight in March and April during a frenzy surrounding Solana-based meme coins in the first half of 2024. 

This surge in interest caused Dogwifhat to go on a price rally, culminating in an all-time high of $4.83. Following this all-time high, the meme coin experienced a substantial correction and is now characterized by smaller rallies and corrections. However, it still remains the largest Solana-based meme coin with a market cap of $2.56 billion.

Even with the recent price decline over the past three days, Dogwifhat has managed to maintain impressive gains of around 68% over the past 30 days. Now that the TD Sequential indicator is printing a buy signal, this price increase is expected to continue for the rest of what looks like a bullish October. At the time of writing, the Solana-based meme coin is trading at $2.57, with a bullish price target of $4 before October comes to a close.

Solana, on the other hand, hasn’t been able to keep up with Dogwifhat gains in the past 30 days. At the time of writing, Solana is trading at $153, up by 15% in the same 30-day timeframe.

In recent weeks, Solana and other major cryptocurrencies have been on a rollercoaster ride, and the coming weeks promise continued uncertainty as volatility shows no signs of slowing down.

Key metrics from DefiLlama reveal that Solana’s total value locked (TVL) has reached a new yearly high, now at around $6 billion, its highest level since September 2022. This TVL increase signals confidence in Solana’s ecosystem and decentralized finance (DeFi) offerings. 

Investors and traders are closely watching the market, with Solana’s performance likely to serve as a key indicator for broader market sentiment. As Solana tests this crucial resistance level, the next few days will determine whether the token continues its upward momentum or faces another round of volatility.

Solana Testing Crucial Resistance

Solana is flirting with a 5% surge, poised to challenge local highs and potentially confirm a long-term uptrend. As the broader crypto market experiences a shift, investors and traders are eagerly searching for signals that Solana is ready to break into new highs.

Key data from DefiLlama shows that Solana’s total value locked (TVL) has reached a new yearly high of $6 billion. TVL measures the total value of assets deposited into a blockchain project and is a key indicator of user confidence and engagement.

A rising TVL suggests that more users are locking their funds into Solana’s decentralized applications, a sign of growing trust in its ecosystem.

This increase in TVL further supports the bullish outlook that many investors hold for Solana. The platform’s expanding DeFi offerings and solid infrastructure make it a strong contender in the altcoin space. As Solana continues to push toward new highs, such fundamental data reinforces optimism about its future price action.

A confirmed surge above key resistance levels could begin a sustained upward trend for Solana, positioning it as one of the top performers in the market. Investors are watching closely to see if the current price movement can translate into a longer-term rally.

Key Levels To Watch

Solana is currently trading at $155 after a volatile session yesterday. The price successfully retested and now holds above the 200-day moving average (MA) at $151, signaling strong support for the asset. This level has been a key indicator for traders, and maintaining it is crucial for sustaining the current bullish momentum.

For bulls to keep the momentum going, SOL must stay above this 200-day MA and break through the $160 level. Such a move would likely confirm a bullish trend and propel Solana to test its yearly highs around $210. This would mark a significant upward move, reflecting optimism in the market and increasing confidence among traders and investors.

However, the bullish momentum could weaken if the price fails to close above $160 and holds above the 200-day MA. In this case, a retracement is likely, with the price potentially dropping to lower demand levels around $140. 

This correction would serve as a consolidation phase before any further upward moves. Traders are closely watching these key levels as they will dictate Solana’s next major move in the market.

Featured image from Dall-E, chart from TradingView

SOL Bull Flag Points To $1,400 Price Increase

A crypto analyst on X (formerly Twitter) identified as ‘Titan of Crypto,�has shared a bullish forecast for Solana, predicting its rise to astronomical highs. The analyst predicted that Solana could see its price jump to $1,400 soon. 

In a comprehensive chart analysis of Solana’s price movements from 2023 till date, the analyst identified a well-defined bull flag pattern, which he described as “massive.�According to Titan of Crypto, the formation of this bull flag signals the potential for a major rally in the coming weeks and months.

In the Solana price chart, the analyst traced the unique flag pattern, which began forming before October 2024. He extended the pattern into 2025, emphasizing that the flag would likely emerge around the end of 2024 or the beginning of the next year, before continuing its development through to October 2025. 

If SOL can successfully complete this pattern without experiencing significant price declines, the crypto analyst expects the top altcoin to reach new all-time highs at $1,429 by 2026. However, a more conservative price projection was given by another crypto analyst, who suggested that a $1,000 price surge based on the Heads and Shoulders technical indicator was a more realistic price target for Solana.

Echoing this sentiment, Titan of Crypto disclosed that Solana’s Fibonacci extensions currency suggests a potential move towards the $1,400 price mark. While maintaining his bullish outlook for SOL, the analyst acknowledged that a $1,000 price target is also possible. He adjusted his previous forecast, stating that he expects Solana to see a price increase around the $1,000 range. 

Titan of Crypto has also confirmed that if Solana can pull off this projected price surge, its current market capitalization of $72.7 billion could potentially double, surpassing Ethereum’s market cap, which currently stands at $315 billion. 

Solana Price Fundamentals Remain Strong

While analysts expect Solana to experience a bullish move soon, the cryptocurrency has also been showcasing strong price fundamentals amidst market volatility and previous declines in the Bitcoin (BTC) price. 

The price of Solana is currently trading at $154.92, marking an 8.59% increase over the past week. The popular altcoin has already experienced another 1.75% price surge in the last 24 hours, underscoring investors’ positive outlook and sentiment for Solana.