- Solana’s hidden bullish divergence and trendline breakout signal potential for an 80% surge, with key resistance at $223.80 and $447.87.
- RSI shows bullish divergence, indicating growing momentum, while maintaining key support is crucial for sustaining the current uptrend.
- Consolidation persists, but a breakout above $223.80 could accelerate gains toward $447.87, while losing support risks deeper corrections.
According to Javon Marks, Solana (SOL) continues its climb after forming a hidden bullish divergence. The cryptocurrency has maintained upward momentum, with its price potentially targeting $233.80 in an 80% surge. Besides, a break above this level could unlock new highs beyond $450
Bullish Momentum Gains Strength
SOL has turned around after a protracted downward trend. The negative phase ended when the price broke out of a descending trendline after initially declining. In addition, the market started making higher highs and lows, which supported the upward trend.
A key support level has been established near recent price action. Notably, SOL has tested this support multiple times, proving its strength. If it holds, the asset may continue rallying. However, breaking below this zone could signal further downside pressure.
SOL faces critical resistance at $223.80. If buyers push the price above this point, the next major target is $447.87. This level represents a long-term bullish target. Besides, surpassing $233.80 could ignite another wave of buying interest.
Further evidence is provided by the Relative Strength Index (RSI). The RSI makes higher lows as the price action stays flat or slightly lower, indicating a positive divergence. Hence, this pattern suggests growing momentum favoring an upward breakout.
The Road Ahead
The market currently consolidates after a strong rally. RSI still trends downward in the long term. However, if it continues forming higher lows, buyers could regain control. Additionally, Solana’s overall structure remains bullish. If resistance breaks at $223.80, the price could rapidly ascend toward $447.87.
However, failure to maintain support could lead to deeper corrections. A breakout above key resistance would confirm further upside potential. Conversely, breaking below support could lead to extended losses. Hence, SOL sits at a crucial junction, awaiting its next major move.
