according to the article on the site - CryptoFrontNews
According to Rose Premium Signals, Solana has broken out of a descending channel and successfully retested the breakout level. This type of movement is often used by traders to confirm a trend change. The retest suggests price strength and ongoing bullish behavior.
The tweet outlines three upward targets for SOL if the current momentum is maintained: $259, $298, and $336. These targets are based on a classic reversal pattern that followed the breakout and retest. Such technical structures are widely tracked by market participants during trend changes.
The current price action is viewed as a continuation pattern, supported by both structure and volume. Recent strength adds weight to the potential breakout scenario in the medium term.
Market interest has also surged due to speculation surrounding a potential Solana spot ETF. Johnny tweeted that SOL is close to a major breakout on the daily chart, mentioning the possibility of ETF approval in the coming weeks.
Further support for this assumption came from Bloomberg analyst James Seyfart, who recently hinted at an impending move on the Solana spot ETF. While there has been no official filing, the timing has caught the attention of crypto traders.
Such early anticipation often generates interest, especially when price momentum coincides with a potential future event. Combined with technical strength, the ETF topic has become part of current discussions.
Solana (SOL) is priced at $166.44 at the time of writing. The 24-hour trading volume for Solana currently stands at $6.6 billion, confirming the current price movement. High volume often validates the legitimacy of signals based on charts and breakout patterns.
The sustained growth of the asset over the past week aligns with broader sentiment and structure. Considering both technical and speculative factors, market participants continue to monitor the short-term dynamics of SOL.
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