Solana

Bull Flag

Sponge

Rekt

Avalanche

<p>Solana (SOL), one of the most popular layer-1 blockchain platforms, has seen its price action strengthen this week after breaking out of a bull flag continuation pattern. According to technical analysts, this breakout could signal further upside for SOL in the near term.</p> 
<p>On January 15th, SOL convincingly broke out of this bull flag, rallying from around $85 back up towards the $100 resistance area. This move reaffirmed the bulls’ control and suggests an upside continuation is likely.</p> 
<p>Well-known analyst <a href="https://twitter.com/ChartMonkeyBTC/status/1747552852937982308" target="_blank" rel="noreferrer noopener nofollow"><strong>ChartMonkey</strong> </a>noted this bull flag breakout on January 16th, predicting further upside continuation for SOL:</p> 
<blockquote class="wp-block-quote"> 
 <p>“As predicted, bullish pennant pattern in 8H timeframe has been broken. Expect a strong upward trend with more potential to go. Keep a close eye on it.”</p> 
</blockquote> 
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</figure> 
<p>Another respected analyst, <strong><a href="https://twitter.com/rektcapital/status/1746945909978517706" target="_blank" rel="noreferrer noopener nofollow">Rekt Capital</a></strong>, also pointed to SOL rejecting old range lows, “slowly showing signs of becoming resistance.” This also indicates the previous uptrend is resuming.</p> 
<p>According to analysis by <strong>altFINS</strong>, SOL remains in a medium- and long-term uptrend, although momentum readings are mixed in the near term. Key support is at $80, with resistance at $100 and $125.</p> 
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<p>Their trade recommendation is to wait for a sustained breakout above $105 before entering fresh bullish swing trades, with upside potential back towards $125. Aggressive dip-buying can be done near $80 if the uptrend resumes quickly from here.</p> 
<p>In summary, Solana’s latest price activity shows encouraging signs of continued bullish momentum. Further decisive breaks above the $100 and $125 levels would confirm the medium-term uptrend is reasserting itself after the recent pullback. Crypto investors should keep SOL on their watchlists.</p> 
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<p>The post <a href="https://captainaltcoin.com/analyst-suggests-solana-sol-could-reach-this-level-following-bull-flag-breakou/">Analyst Suggests Solana (SOL) Could Reach This Level Following Bull Flag Breakout</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Analyst Suggests Solana (SOL) Could Reach This Level Following Bull Flag Breakout

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