#Solana recently surged past the $150 mark, its highest point since January 2022, before experiencing a slight pullback.
On March 5th, Solana's value dropped to $110 but quickly rebounded, indicating strong buyer interest during market dips.
A long-tail rejection candle suggests that Solana's price has been sustained above the $120 support level, maintaining a bullish outlook with the formation of a cup and handle pattern.
Following a breakout from the cup and handle pattern, Solana's price is positioned to exceed $150, with potential for a 67.4% growth to reach $250.
Positive momentum suggests Solana could soon reach $160, with further potential to reach $200, indicating a notable market recovery.
On the daily chart, Sol has encountered resistance at the upper boundary of the Ascending channel pattern.
However, failure to surpass resistance at $160 could lead to a downward correction, potentially testing crucial support at $120 amid overall market pressure.
According to Coingabbar's analysis, Solana price prediction 2030 to hover around $500, while Solana price prediction 2040 forecasts $1000.
KEY LEVELS :
RESISTANCE LEVEL : $153-$160
SUPPORT LEVEL : $142-$135
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