As the month or year's first half concludes, the cryptocurrency markets witness notable strength, particularly in tokens such as Solana. Solana's price has managed to remain above a bullish threshold, hinting at a potential surge in buying activity that could trigger a robust uptrend in the near future. Despite closing the weekly trade on a positive note, Solana's price is expected to undergo a period of consolidation before further advancements. The current market conditions indicate that bulls are steadily accumulating gains, with the price holding within a narrow range above the $144 support level. The ongoing upward trend throughout the day's trading session suggests that Solana is poised to end the monthly trade with a bullish tone, having already confirmed its price bottoms. The token's consolidation phase echoes a previous pattern that led to a substantial price increase of nearly 1000% to achieve an all-time high of $260. The looming question is whether SOL price will witness a similar surge and reach $1000. Analysis of Solana's historical chart reveals a familiar price action reminiscent of the period before the 2021 bull market rally commenced. The accumulation pattern and RSI levels mirror previous phases, with decreasing volume signaling bullish prospects for the cryptocurrency market. While technical analysis hints at an impending breakout from consolidation, the accumulation phase is still unfolding. Consequently, Solana (SOL) price is anticipated to demonstrate a gradual ascent within a triangular formation, touching around $145 before surging to interim peaks near $165. By the conclusion of the third quarter trade, the price is projected to converge at the triangle's apex and set off on a fresh bullish trajectory towards higher price targets.
Will Solana (SOL) Price Hit $1000 in the Upcoming Bull Run?

by Giorgi Kostiuk
2 years ago

Other news
Speculation Surrounds NIGHTPERP Listing on Coinbase

Unverified reports suggest that Coinbase may list the NIGHT perpetual contract, causing market speculation and skepticism.

Uniswap and Ethereum Maintain Stability Amid Market Changes

Uniswap and Ethereum maintain stable trading activity in early 2026, with limited growth potential, prompting investors to explore newer options.

BonkFun Introduces Dual-Track Approach with BONKERS Model

BonkFun has launched the BONKERS model, offering flexibility for projects with different economic structures.

BonkFun Eliminates Creator Fees to Compete in Meme Coin Launchpad Sector

BonkFun has eliminated creator fees and introduced BONK Classic launches with a 0.30% swap fee to regain market share in the meme coin launchpad sector.

Ethereum's Roadmap Execution Seen as Key to Outperformance

DefiIgnas highlights Ethereum's clear roadmap execution and scaling capabilities as factors that may lead to its outperformance over Bitcoin this year.

China's Bitcoin Mining Activities Resurge Despite Official Ban

China is witnessing a resurgence in Bitcoin mining activities, particularly in Xinjiang, despite an official ban.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter