Solana (SOL) is now trading around a crucial supply zone after an impressive 26% surge since September 18, following the Federal Reserve’s announcement of interest rate cuts. This sharp rally has sparked optimism among analysts and investors, who hope Solana could soon reach new all-time highs.
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Many in the crypto space believe Solana is primed for further gains, with some expecting it to outperform the broader market in the coming months. One prominent analyst, Carl Runefelt, has shared a technical analysis on X, highlighting the potential for a parabolic move once SOL breaks through its yearly high.
With growing attention to Solana’s strong fundamentals and technical strength, the market is closely watching to see if SOL can maintain its upward trajectory and deliver the explosive gains many anticipate.
As Solana hovers near these key levels, the next few days could be critical in determining whether it will continue its upward march or face renewed selling pressure.
Solana To $200 Before New ATH
Solana (SOL) is now testing a key liquidity area, and investors are closely watching for the next price move. After a bullish run over the past two weeks, many expect a surge that could push SOL higher. However, some concerns remain that Solana might underperform this cycle compared to other leading altcoins, which have shown stronger market activity.
Prominent crypto analyst Carl Runefelt recently shared a detailed analysis on X, highlighting a bullish “cup and handle” pattern forming in Solana’s price action. This pattern, often seen as a signal for continued upward momentum, has a clear resistance level of around $200. Runefelt believes that once Solana breaks past this key level, the price could go parabolic, with the next major target being the all-time high (ATH) of around $260.
In his analysis, Runefelt emphasizes that breaking through the $200 resistance will be crucial for Solana’s price action. Once this happens, he predicts a rapid and aggressive move to new highs.
The cup and handle formation is a classic bullish continuation pattern frequently leading to sharp price increases, suggesting that Solana could be set for a major breakout.
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With the market sentiment still bullish and Solana testing critical…
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