Solana can be about to be a rally up to $ 164, as soon as it looks ready to break out of a popular bullish pattern, according to an analyst.
According to a July 9 after On X by analyst Ali, Solana has formed a symmetrical triangular pattern on the 4-hour graph, characterized by two converging trend lines that represent lower highlights and higher lows. Such a pattern suggests a period of price consolidation that usually culminates in an outbreak in both directions.
Ali noted that a confirmed outbreak above the upper limit of the pattern, located near the resistance level of $ 153, could activate a bullish set with a short -term objective of $ 164.
From the moment of the press, Solana (SOL) acted exactly at this key threshold, so that the stage was set for a potential technical outbreak.
Momentum indicators support the bullish prospects. On the 4-hour/USDT graphics, the advancing average convergence divergentie line above the signal line has been exceeded, with both trending up. Traders regard this as a sign that buying interest rates and the price can continue to rise.
Additional technical insights were provided by another pseudonym analyst, SDX, who observed That SOL was established under a falling trendline that has been formed since the beginning of the year.
A successful outbreak and retest of this level, notes SDX, could act as a catalytic converter for a stronger upward trend, which may open the door for a new of all time when buying volume confirms the outbreak.
Fundamentals also take in favor of Solana. Firstly, Sol was recently included as one of the recommended assets in the proposed “Blue-Chip” cryptocurrency ETF of Trump Media and Technology Group, according to a request at the US Sec.
Secondly, reports indicate that the US SEC has requested issuing settings to change and re -do applications for Spot Solana ETFs at the end of July, which may make the timeline accelerate for formal approval. When the SEC submits such a request, this usually indicates that the agency does not reject the proposals downright, but is open to progress if certain conditions are met.
Traders often regard this kind of regulatory involvement as a bullish sign and interpret it as a step closer to approval that could unlock a new question from both institutions and retail investors.
In the meantime, Solana has also emerged as a leading blockchain in the Real-World assets-token risions sector. Data from Dune Analytics shows that tokenized Rwas on Solana reached a record of $ 418 million, with an increase of 631% in active users in the last 30 days.
This is further supported by strong network activity. Daily active addresses for Solana shot up to 15.39 million of only 3.46 million the previous day, which marked a dramatic increase of 345% in network activity.
The range of Stablecoin on the Solana network has also increased steadily last week. Stablecoins are the backbone of decentralized finances, which serve as a critical exchange medium, value storage and unit unit within blockchain ecosystems.
For Solana this can mean that an inflow of new users can use the chain for payments, trade and tokenized assets, which in turn can further support the bullish story.
Sol traded around 48% below the all times of $ 293 at the time of the press.
