#Sol
Trade now . . โคโค๐๐๐
๐๐ค๐ก๐๐ฃ๐ ๐๐ง๐๐๐ ๐๐ง๐๐ข๐๐ ๐๐ค๐ง ๐ฝ๐ง๐๐๐ ๐ค๐ช๐ฉ ๐๐จ ๐๐๐ข๐ ๐พ๐ค๐๐ฃ ๐ผ๐๐ฉ๐๐ซ๐๐ฉ๐ฎ ๐๐ ๐ฎ๐ง๐ค๐๐ ๐๐ฉ๐จ
Solana price rose by over 5% today, July 3, coinciding with the broad crypto market rally. This surge could accelerate to $200 as most Solana meme coins gained steam and a newly launched SOL ETF gain traction among Wall Street investors.
SOL price today trades at $155, with CoinMarketCap data showing that the 24-hour volume jumped by 37% to $4 billion.
The daily timeframe shows that Solana price has crawled back after bottoming at $127 in June. It has jumped above the 23.6% Fibonacci Retracement level at $121, and formed a small inverse head and shoulders pattern.
Most importantly, SOL price has formed a bullish flag pattern, a common continuation sign. This patternโs flagpole starts at the year-to-date low of $93 and ends at $186, giving it a height of $93. The flag section is made up of a descending channel whose lower side links the lowest swings on May 19, June 9 and 23.
It has moved above the upper side and retested it, confirming the bullish breakout. It broke out at $145, meaning that the potential Solana price target is $238, up by 55% from the current level. This target is obtained by adding the breakout point to the patternโs height. A surge to that level will be confirmed if it rises above the resistance at $186.
The other bullish catalyst is that Solana price has jumped above the 50-day moving average. Also, other top oscillators like the Relative Strength Index (RSI) are highly supportive of a breakout.
The bullish SOL price forecast will become invalid if the token drops below the key support at $127, the lowest swing in June this year.
A potential catalyst for Solana is that its meme coins are in a strong recovery as investors buy the dip. CoinGecko data shows that the market valuation of all these coins has jumped by over 13% in the last 24 hours to $11 billion.
