Solana price could surge 76% as bullish momentum builds above ke
2024-11-12

Based on the image, the technical analysis of Solana (SOL/USDT) suggests a potential price surge of approximately 76.78%, aiming for a target around $356.80. Currently, SOL is trading around the $218 level, and the chart highlights a green zone indicating a key support area near $200, which has acted as a historical resistance level in the past. This zone appears to now serve as a significant support that could facilitate a bullish breakout.

The chart shows a potential upward trajectory following a period of consolidation, with the price possibly moving toward the highlighted target if the upward momentum continues. The white line illustrates a projected path where SOL might experience a minor retracement before continuing its rally. The blue arrow measuring 76.78% represents the expected gain if the price reaches the target.

The recent upward trend, coupled with this support zone around $200, suggests bullish sentiment. Should the price hold above this support, it may continue its upward movement, aligning with the projected target at $356.80. However, a failure to maintain above the support level could challenge this bullish outlook.