Solana Could See Rally Toward $164 Amid Technical Breakout Signals and Growing Network Activity
2025-07-09 11:02:33
Main Idea
Solana's price is showing bullish technical signals with a potential breakout above $153, targeting $164, supported by positive momentum indicators and strong fundamentals including ETF inclusion and network growth.
Key Points
1. Solana's price action on the 4-hour chart shows a symmetrical triangle, with a breakout above $153 potentially leading to a rally toward $164.
2. Momentum indicators like MACD and RSI support the bullish outlook, with MACD showing a bullish crossover and RSI avoiding overbought conditions.
3. Solana's fundamentals are strengthened by its inclusion in a proposed 'blue-chip' cryptocurrency ETF by Trump Media and Technology Group, which could boost spot Solana ETF applications.
4. Tokenized real-world assets (RWAs) on Solana have surged to $418 million, with active users increasing by 631% in the past month, highlighting ecosystem growth.
5. The article also mentions unrelated cryptocurrency news snippets, such as Bitcoin's Bollinger Band compression and various altcoin developments, which are not directly related to Solana's analysis.
Description
Solana (SOL) is showing strong technical and fundamental signals that could propel its price toward $164, indicating a potential bullish breakout. Recent chart patterns and momentum indicators suggest that SOL
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