Factors that Could Spark a Bullish Run for Solana (SOL)

Solana's SOL has seen a downturn recently, trading about 45% below its all-time high from January. However, some analysts believe it may be on the brink of a renewed rally. Notably, Ali Martinez suggests a breakout above the $176-$188 resistance level could trigger a fresh bull run.

Other analysts, like Cas Abbe and Mags, also foresee potential uptrends for SOL, with Abbe highlighting SOL's 50% climb since its April crash and Mags pointing out a forming ascending triangle pattern in SOL's monthly chart. Furthermore, a user known as XO is exploring new buying opportunities, considering the $140-$150 zone as an immediate level of interest.

These analyses suggest that SOL's future price dynamics might heavily depend on Bitcoin's next moves.