With January bringing a mixed bag of gains and losses for the cryptocurrency market, Solana (SOL) has held steady and established a new support zone that could propel it toward its previously all-time high levels.
Solana experienced a breakout from a bull flag formation, which is evident on the 4-hour chart. A sustained closure above the $106 threshold could initiate a significant 47% rally, propelling the SOL token toward the price range of $150 to $165, which crypto analyst Ali Martinez reminded investors of in his post on X on January 16, suggesting it is only a matter of time ‘tick-tock.’
tick-tock ⏱️ https://t.co/HdZ8lf8IPf
— Ali (@ali_charts) January 16, 2024
Per the expert, it seems that technical and fundamental indicators are tilting towards Solana’s continued gains, which look set to extend into the following months of 2024.
Analysts and indicators concur
With the decisive accumulation phase at the $100 threshold for Solana, it seems that this digital asset is g
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