Solana (SOL) is building on bullish momentum across the broader cryptocurrency market after reclaiming the $150 resistance level.
Notably, technical indicators shared by crypto analyst Ali Martinez in an X post on August 23 suggested that SOL is poised to reclaim $200 while targeting a new record high.
According to Martinez, a potential “Adam and Eve” pattern on Solana’s four-hour chart suggests the cryptocurrency could experience a substantial rally in the near term. This pattern is a classic chart formation often associated with bullish reversals.
It typically features a sharp, V-shaped dip (the “Adam” portion) followed by a more rounded, U-shaped bottom (the “Eve” portion). The pattern is generally considered complete when the price breaks above the resistance level between the two bottoms.
SOL price analysis chart. Source: TradingView
As observed by Martinez, Solana recently experienced a sharp decline to approximately $108, followed by a bounce back to
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