Solana could rally to $164 if it breaks out of this key pattern
2025-07-09 10:43:56
Main Idea
Solana (SOL) shows potential for a price rally to $164, supported by technical patterns and positive fundamentals, including ETF inclusion and strong network activity.
Key Points
1. Analyst Ali identified a symmetrical triangle pattern on Solana's 4-hour chart, suggesting a potential bullish move if resistance at $153 is broken.
2. SDX noted SOL is coiling below a descending trendline, and a breakout with strong buying volume could push it to new highs.
3. Solana was included in Trump Media and Technology Group’s proposed 'blue-chip' cryptocurrency ETF, boosting its market prospects.
4. Tokenized real-world assets (RWAs) on Solana reached a record $418 million, with a 631% increase in active users over 30 days.
5. Daily active addresses on Solana surged to 15.39 million from 3.46 million the previous day, indicating strong network activity.
Description
Solana could be on the verge of a rally to $164 soon as it looks poised to break out of a popular bullish pattern, according to an analyst. According to a July 9 post on X by analyst Ali, Solana has formed a symmetrical triangle pattern on the 4-hour chart, characterized by two converging trendlines representing lower highs and higher lows. Such a pattern suggests a period of price consolidation that typically culminates in a breakout in either direction. Ali noted that a confirmed breakout abov...
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