The cryptocurrency market shows a gradual recovery after recent fluctuations. In particular, Solana (SOL) demonstrates early signs of a potentially strong bullish movement.
Current Situation in the Cryptocurrency Market
The cryptocurrency market is beginning to recover after recent upheavals. After dropping to a 24-hour low of $3,678, Ethereum (ETH) has rebounded to $3,860. This movement has positively affected many altcoins, including Solana.
Comparison of Solana and SEI
A comparison of SEI and SOL charts reveals an uncanny similarity in their structures. Earlier this year, SEI broke out of a clean ascending triangle, leading to a 55% increase after a supportive retest. Solana, after months of consolidation, broke its resistance level and exhibits similar patterns.
Future of Solana
If the current pattern plays out, SOL may be gearing up for another strong move upward. A clean break above the recent high at $206 would confirm this scenario and might open the way to higher targets — $244 and $271, potentially leading to a 48% increase from current levels. However, it is crucial to maintain support above the breakout area; a failure to do so could lead to further downside.
Despite the uncertainty, Solana's structure remains intact, and market participants are closely watching its behavior.
