Solana (SOL) is starting to regain serious momentum, fueled in part by the explosive growth of its meme coin ecosystem.
Over the past month, SOL has surged 20.7%, signaling a strong comeback as bullish sentiment builds across the network.
One crypto analyst, the pseudonymous Inmortal, believes May could be a defining month for Solana, potentially confirming whether the recent gains mark the end of the bear market.
Inmortal also pointed out striking similarities between Solana’s current price action and its powerful rallies back in 2022 — adding more weight to the bullish outlook.
Two years ago, SOL bounced strongly after a significant downtrend. However, this was a bear market rally that ultimately faded and pushed the token to lower lows.
History may not repeat itself but, sometimes, it rhymes. Inmortal emphasized that the next 30 days will provide a clear answer to what this recent rally truly is.
If SOL drops to $100 again, it would confirm that, as it happened in 2022, the token could trade range-bound near that key support for many months.
However, if the price keeps rising, it could invalidate this thesis and we could see Solana recapturing key levels in the near term – including the highly important $200 threshold.
Solana Breaks Its Falling Wedge and Could Rise to $180
Solana’s recent price action has confirmed a bullish breakout from its falling wedge pattern, with strong volume driving its price from $132 to $150 in just a few days.
Momentum indicators continue to support a bullish outlook, with the RSI holding above the signal line and the MACD histogram remaining firmly in positive territory — both signaling that further upside could be on the horizon.#BinanceAlphaPoints
