$SOL (SOL) has been on a roll in the crypto scene recently, driven by a number of favorable technical and macroeconomic factors. Since October, Solana has broken out of a technical bullish pattern known as an inverted head and shoulders, suggesting that its price could reach as high as $190 this month. The increase in open interest — which measures interest in open positions — shows growing investor confidence, indicating a possible extension of the upward movement. AMBCRYPTO CRYPTONEWS. With Bitcoin on a bullish trajectory and expectations of an all-time high, Solana could also benefit significantly. Analysts estimate that if Bitcoin reaches new highs, the price of SOL could reach the $600 range, marking an increase of around 450% from current values. Additionally, Solana’s DeFi ecosystem is booming, with a significant increase in total value locked (TVL) and demand for NFTs and DEXs (decentralized exchanges), highlighting the growing interest in the network. COINTELEGRAPH . These projections are further encouraged by macroeconomic factors, such as the recent interest rate cut by the US Federal Reserve. Historically, the fourth quarter tends to be positive for cryptocurrencies, especially in years of major events, such as the upcoming US election cycle, which tend to intensify volatility and interest in the market. CRYPTONEWS .