$SOL Solana Rises 20% in a Week, But Analysts Warn of Potential Breakdown šš
Solana has surged more than 20% in the past week, and increased by 0.609% in the last 24 hours. At the time of publication, SOL was trading at $201.01, with the broader altcoin market sparking bullish hopes among investors.
Gert van Lagen pointed out Solana's breakdown on a high timeframe (HTF) against Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and XRP as a major red flag.
Highlighting bearish divergence across the board, he noted that Solana's current trajectory reflects a multi-asset downturn. Additionally, the token shows no signs of recovery when measured against its biggest competitors.
Adding to the bullish case, Solana is undergoing a significant network upgrade as part of Epoch 821.
According to the CEO of Helius Labs, Solana blocks are increasing in size by 20% in an ongoing protocol-level upgrade aimed at enhancing throughput.
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