Expert Analyst Predicts This Solana Price Bullish Reversal Pattern Could Send $SOL to $1,200
Discover expert predictions on Solana price potential to reach $1,200 as it forms bullish reversal patterns. Here's what to expect next for the SOL price.
Solana price is on the cusp of a breakout from a bull flag setup, although the Bitcoin price has been interfering. Nevertheless, top analysts have concluded that SOL price will have one of the best bull markets this cycle, pulling the entire meme coin industry up after multiple bullish patterns emerged on its price chart. Can the SOL price reach $1200 this cycle?
Three White Soldiers Pattern Hints Bullish Reversal For Solana Price:-
Altcoin Archive pointed to a bullish candle formation on the Solana monthly chart, noting it as ârare.â
According to the rules of technical analysis, the Three White Soldiers candlestick formation is a bullish reversal pattern usually followed by a short-ranging period before an explosive breakout to the upside.
Historically, Bitcoin begins the final phase of the bull run after the November elections, and investors hope this year will follow the same trend. Such an outcome would validate Altcoin Archiveâs analysis.
The analystâs prediction comes at a time when SOL price has seen a 3.7% drop over the last day and is trading at $143.03. The general crypto prices are in the red, with the total market cap down 3.5% over the last 24 hours after Bitcoin failed to hold above $64,000.
Bull Flag On The Macro To Spur SOL to $1200:-
Similarly, macroeconomist Seth shared his thoughts on Solanaâs next direction on X. According to his macro analysis, SOL is about to lift an entire ecosystemâmeme coins.
According to Sethâs analysis, Solana rests from a prior strong uptrend. The pullback price action has formed a bull flag, typically indicating a bullish continuation. A breakout from this market structure could send the Solana price to the $900-$1200 range.
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