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<p><a href="https://captainaltcoin.com/?s=solana&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL)</a> has been quietly moving higher amidst the market’s focus on Bitcoin (BTC) and Ethereum (ETH). According to analyst <a href="https://x.com/CryptoJelleNL/status/1798628406890004644" target="_blank" rel="noopener noreferrer nofollow">Jelle</a>, SOL is closely following the price action pattern observed in February and March, which suggests that new all-time highs could be on the horizon in the coming weeks.</p>
<h2 class="wp-block-heading" id="technical-analysis-highlights-bullish-solana-uptrend">Technical Analysis Highlights Bullish Solana Uptrend&nbsp;</h2>
<p>A detailed technical analysis provided by altFINS reveals that Solana is currently in an uptrend, with the recent pullback near the $160 support level and the long-term uptrend line presenting an attractive swing trade entry opportunity. The analysis suggests a potential 25% upside target of $200, with a stop loss level set at $140.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="634" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-1024x634.png" alt="" class="wp-image-504448" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-1024x634.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-300x186.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-768x475.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-1536x951.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-2048x1267.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-242x150.png 242w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-100x62.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-566x350.png 566w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215-788x487.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-215.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Solana’s current price action is exhibiting a classic “Pullback in Uptrend” pattern. This pattern occurs when the price remains in an uptrend but experiences a temporary pullback, potentially offering a “buying dip” opportunity for investors.</p>
<p>Traders are advised to look for the nearest support level where the price could stabilize and resume its uptrend. This support level could be a level where the price has bounced off in the past or a level that previously acted as resistance.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-1024x573.png" alt="" class="wp-image-504439" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-1536x859.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-2048x1145.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-626x350.png 626w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214-788x440.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-214.png 1940w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<h2 class="wp-block-heading" id="strong-uptrend-across-multiple-timeframes">Strong Uptrend Across Multiple Timeframes</h2>
<p>The altFINS analysis highlights the strength of Solana’s uptrend across various timeframes. The short-term, medium-term, and long-term trends are all classified as “Strong Up,” indicating a robust bullish sentiment surrounding the cryptocurrency.</p>
<p>While the current momentum is bearish, the analysis suggests that it may be inflecting. The MACD (Moving Average Convergence Divergence) line is still below the MACD signal line, but the rising MACD histogram bars indicate that momentum could be nearing an upswing.</p>
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<p>Additionally, the RSI-14 (Relative Strength Index) levels show that Solana is neither overbought nor oversold, providing room for further price appreciation.</p>
<p>The nearest support zone for Solana is identified at $160, followed by $125. On the upside, the nearest resistance zone is located at $200, which aligns with the potential upside target mentioned in the trade setup.</p>
<p>As Solana continues to mirror the price action pattern observed in February and March, the cryptocurrency appears well-positioned for a potential surge in the coming weeks.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/solana-chart-follows-the-same-pattern-when-sol-price-pumped-100-heres-analysts-outlook/" rel="noopener noreferrer nofollow">Solana Chart Follows the Same Pattern When SOL Price Pumped 100% – Here’s Analyst’s Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Chart Follows the Same Pattern When SOL Price Pumped 100% – Here’s Analyst’s Outlook

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