Prediction of Increased Dominance of Solana (SOL) in the Crypto Market Next Month!
The crypto market is always full of unexpected dynamics, and this time, the digital currency Solana is showing strong signals of a significant increase. Veteran analyst Josh Olszewicz recently shared his detailed analysis regarding the price movement of Solana (SOL) against Bitcoin, which reveals patterns that attract the attention of investors and market observers.
Technical Analysis Shows Potential for Solana (SOL) Increase
The inverse-head-and-shoulders (iHS) pattern that has formed since early March is now getting closer to the neckline around 0.00162 BTC. Currently, Solana (SOL) is trading at a price of 0.001588 BTC. With Bitcoin (BTC) in the range of $94,765, this places the value of Solana (SOL) at around $150 per coin.
This pattern indicates significant upside potential if it successfully breaks through the neckline, with a technical target of 0.00195 BTC. This pattern is not only interesting because of its geometric formation, but also due to confirmation from various technical indicators. The Ichimoku Cloud, although still showing a thick red cloud, is beginning to show signs of weakening bearish momentum. This gives hope to Solana (SOL) bulls that they may soon have reason to celebrate.