SOLANA Price Prediction, Bulls Roar, Setting Sights towards 40 Dollar

SOLANA breaks $30 resistance, poised for a $33 rally against USD

Bitcoin has surpassed the $35 mark, triggering a bullish surge in the major altcoins' prices. Solana, in particular, has garnered significant interest from buyers, resulting in an impressive 84% price increase over the past six weeks, pushing it from $17.35 to reclaim the $32 level. This rapid turnaround has formed a rounding bottom pattern, and Solana's price has exhibited robust upward momentum, evident through six consecutive bullish candles in the last ten trading sessions.

Technical View:

According to Coingabbar Price Analysis, Solana benefits from the market rebound, surging past the $30 mark after breaking out of a rounding bottom pattern with a neckline at $28. Strengthening trend momentum and positive market conditions contribute to its promising future. The broader crypto market experiences growing bullish momentum, increasing buying pressure for major altcoins. On the hourly chart, SOL forms an Inverted Head and Shoulders pattern with a $32.80 neckline. If the breakout continues, the uptrend could aim for the $35-$40 range.

KEY LEVELS :

RESISTANCE LEVEL : $32.80-$34.50

SUPPORT LEVEL : $31.00-$29.50

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.