Solana Skyrockets 20% Over A Week, Potential Bull Run Upcoming?

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 20, 2024 19:09

Solana has witnessed a significant increase, rising over 20% over the last week. Since mid-April, it has traded within a broad range, finding support at $115 and facing resistance at $188. Crypto analyst Ali Martinez highlights that Solana is forming a W pattern, suggesting a potential bull run. The pattern indicates the price bottomed out around $123 twice, positioning Solana for a major rebound toward the $174 level. A bullish triangle pattern is forming on Solana’s chart, historically indicating a potential breakout and significant price movement.