Main takeout:
Solana has formed a megaphone chart pattern with a potential $ 210 price target.
Solana’s ecosystem growth emphasizes the upper limit of $ 4 billion and the interest of investors renewed with 735 million transactions.
Solana (SOL) Price tested major resistance for $ 180 earlier this week, but Altcoin failed to establish a position above the level. In the last few days, SOL has exceeded $ 170 or more, but the price has fallen 5.65% since May 14.
Recently, Solana, including minor dip, has formed a megaphone pattern, a classic technology setting that increases volatility in a four -hour chart.
This chart shows that the upper resistance line of the megaphone is close to $ 185, consistent with the immediate resistance of $ 180. The identified brake out above this level can measure the largest part of the pattern and turn it up at the brake out point to promote the SOL towards the first goal of the pattern at the $ 210 calculated.
If momentum persists, the next goal is $ 210 and represents 21% rally at the current price. More than $ 200 will also cause psychological levels to attract more purchase pressure.
But the megaphone pattern may also be weak. If you do not destroy $ 180, it can lead to a 100 -day index moving average (EMA) or a low support of nearly $ 150. Volume confirmation of a small amount is a key trigger. The enemy can see the wrong movement, which leads to the immediate reversal of the initial bias.
Related: Solana Network and Defi Activity suggest that Sol Price Rally will continue.
SOLANA’s $ 4 billion is a upper limit growth rate and a 735 million transaction signal momentum
Solana is experiencing a revival of investors’ interests, reporting that GlassNode matches the growth of XRP (XRP), and the inflow of capital has increased from 4% on the 30th. After months of leaks, this trend reversal signal has renewed the demand for Solana ecosystems. The realized CAP reflecting the last value of the coin showed SOL’s driving force from $ 4 billion to $ 78.5 billion on May 14.
The data in the TOP 7 ICO report further verifies the powerful performance of Solana and secures the position as the second -largest blockchain by transaction. Last week, Solana handled impressive 770 million transactions, with only 17.9 billion won in Hyperliquid. This product surpassed the foundation of 77.1 million transactions, emphasizing the existing benefits and popularity of Solana compared to other chains.
Related: SPOT BITCOIN ETF inflow is falling, but BTC whale activity refers to acceleration of the bull market.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.