Solana Surges Past $100 as Analysts Identify Potential Bullish Breakout Pattern
Solana's price has surpassed $100 after a strong week, sparking renewed speculation about a potential major trend shift.
The coin climbed to around $104 on August 29, marking an 11% gain over the previous week. Analysts are pointing to similarities between the current market structure and Solana's 2022-2023 bottoming period.
A long-term chart by analyst Maelius shows that SOL briefly dipped below a major horizontal support level before regaining momentum, mirroring the 2022 drop below $20. The RSI is testing a multi-year descending resistance line, an event reminiscent of the shift near the 2023 bottom.
The bullish scenario would be confirmed if SOL can deliver consistent weekly closes above the downtrend and hold above key support levels around $80.