Based on his prognosis, Solana<\/a> might be about to perform better in the coming weeks or months. This is because it has recently displayed a pattern called a “bull pennant”, which in technical lingo usually means the price is set for a big ascent.<\/p>\n The next period of stabilization, during which volatility dropped and price action became more narrow, led to the pennant shape. Martinez says that Solana’s recent break above the top trendline of this pennant is a strong sign that prices will go up. This big step forward and last week’s 20% rise show that the market’s mood has changed a lot.<\/p>\n #Solana<\/a> $SOL<\/a> has officially broken out from this bull pennant, suggesting a potential 900% rally ahead. pic.twitter.com\/CWQdWGny0X<\/a><\/p>\n \u2014 Ali (@ali_charts) July 24, 2024<\/a><\/p><\/blockquote>\n Notwithstanding the hopeful estimate, the state of the current market shows a mixed picture. Currently selling at $166, Solana shows a 9.70% drop only this week. Meanwhile, Fisher Transform<\/a>, which predicts market turning moments, shows a bearish signal for Solana.<\/p>\n This implies that although the break from the pennant is positive, instantaneous market circumstances could not entirely support the predicted upward trajectory.<\/p>\n Observing that the TD Sequential indicator flashed a Sell signal on three separate timesframes for Solana, Martinez had earlier expected this retreat. He says that although the 868% increase to $1,630 is still a long-term possibility, it is not likely to happen right away.<\/p>\n\n
Market Situation Shows Mixed Signs<\/strong><\/h2>\n
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<\/p>\nSolana: Forecast Creates A Complex Picture<\/strong><\/h2>\n
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