Solana

United

Bitcoin ETF

Solana, one of the top cryptocurrencies, appears to be highly bullish at the moment. Analysts and current accumulation data on January 29, 2024, strongly indicate a bullish trend in Solana. Solana price consolidation over, says analyst 
For the past 30 days, Solana has been in correction mode, but the recent upside momentum not only attracts investors but also indicates that bulls are making substantial bets on Solana’s SOL. Solana is among the top 10 cryptocurrencies that experienced a significant over 350% upside momentum in the previous year, 2023.
However, this year, following the approval of a spot Bitcoin ETF (Exchange Traded Fund) in the United States by the Securities and Exchange Commission (SEC), it is evident that we may experience returns similar to what Solana has provided in previous years.
Also Read: <a href="https://news.todayq.com/solana-overtakes-bnb-is-eth-next/" rel="noopener noreferrer nofollow">Solana overtakes BNB, Is ETH next?</a> What did the analyst say about Solana? 
Recently, analyst Michael van de Poppe made a post on X (previously Twitter) stating that Solana is ready for upward continuation. He also mentioned that after the initial push upwards, there is typically a period of consolidation, and it appears that this phase has concluded. During this consolidation period, Solana also retested its support level, which was at $80. According to Michael’s post on X, Solana seems poised to continue towards $140.
Currently, Solana is trading near $103, and in the last 24 hours, it has experienced a significant over 6% upside momentum. If we examine Solana over a longer period, in the last 7 days, it has encountered over 28% upside momentum. During these 7 days, the price of Solana moved from $80 to the current level of $103. However, in the last 28 days, Solana only experienced a 1.5% upside momentum, which occurred due to the recent price consolidation.
On January 29, 2024, a notable transfer of Solana’s SOL tokens was observed. Approximately 2 million SOL tokens, valued at around $201 million, were transferred from an unknown wallet to another unknown wallet. Additionally, over149K SOL tokens worth approximately $14 million were purchased from the Kraken cryptocurrency exchange by an unknown wallet. Simultaneously, 149K SOL tokens were transferred from an unknown wallet to the Kraken cryptocurrency exchange. 
These substantial Solana token transactions underscore the interest of investors and crypto whales in this dynamic cryptocurrency industry. Solana technical analysis and SOL price prediction 2024 
According to experts’ technical analysis, if we look at the SOL chart on a daily time frame, it clearly shows that the previous consolidation over the last 30 days forms a bullish flag and pole price action pattern. Recently, on January 29, 2024, this bullish flag and pole price action pattern also experienced a breakout. Source: TradingView 
This breakout of bullish price action indicates that in the coming days, Solana may reach another resistance level at $140. During this range, no hurdles may affect Solana’s bullish move until some negative news emerges.
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Alert! Solana’s Flag and Pole breakout, Will SOL reach $140 level?

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