The Solana price is up 1.88% in the last 24 hours following the broader market relief rally. The bullish turnaround allowed the SOL buyers to reclaim 200 days, accentuating the prevailing bullish trend. Amid the formation of a bullish chart pattern and rising network revenue, this layer-1 cryptocurrency is poised for further recovery.
Solana Price Eyes $1,000, ‘No Tomorrow Without It,’ Says Analyst
A recent analysis by crypto trader KongTrading suggests that Solana (SOL) price could experience a significant breakout if the current wedge pattern breaks to the upside. The added chart shows two converging trendlines acting as dynamic resistance and support for SOL price since March 2024.
With the price approaching the apex of this wedge, the asset is poised for a deceive breakout. The analyst stated, “Once this wedge on SOL price breaks to the upside, there will be no tomorrow without $1000”, projecting a highly bullish outlook for Solana’s potential growth.
Once this wedge on $
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