{"id":631932,"date":"2024-07-28T13:30:08","date_gmt":"2024-07-28T13:30:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=631932"},"modified":"2024-07-28T09:56:28","modified_gmt":"2024-07-28T09:56:28","slug":"solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target\/","title":{"rendered":"Solana Confirms Upside Breakout With Bullish Pennant – Here\u2019s The Target"},"content":{"rendered":"

Solana continues to showcase a <\/span>positive price movement<\/span><\/a> as it outperforms the rest of the market. This recent surge in value allowed Solana to surpass Binance Coin (BNB) in market capitalization rankings last week, marking a significant milestone for the digital asset. <\/span><\/p>\n

Related Reading: MANA Soars As Market Optimism Returns, Next Stop $0.3713 Level<\/a><\/div>\n

Delving deeper into its performance, <\/span>technical analysis <\/span><\/a>suggests that Solana’s bullish trend is likely to persist into the coming week. Indicators point to sustained momentum, which could see its price continue to climb. Captain Faibik stands out with a particularly bold prediction. The crypto analyst forecasted a substantial rally for Solana, projecting its price could soar to as high as $1,000.<\/span><\/p>\n

Bullish Breakout For Solana<\/b><\/h2>\n

Technical analysis shared on social media platform X by renowned crypto analyst Captain Faibik has brought attention to a significant development for Solana’s price. According to his analysis, recent price movements have caused Solana to break out of a bullish pennant formation on the weekly timeframe. Bullish pennant patterns typically emerge after an uptrend and signal the continuation of this upward trend after a period of consolidation.<\/span><\/p>\n

For Solana, the formation of this pattern began with a strong price rally that started in August of last year, culminating in a peak above $200 in April. Following this peak, Solana entered a consolidation phase characterized by progressively higher lows and lower highs, eventually reaching a low of $127.<\/span><\/p>\n

\"\"
SOL market cap currently at $85 billion. Chart: TradingView.com<\/a><\/figcaption><\/figure>\n

Solana is experiencing renewed bullish sentiment, indicating that the consolidation phase might be ending. The cryptocurrency has recently surged past $185 again, confirming the bullish pennant breakout identified by Captain Faibik.\u00a0<\/span><\/p>\n

\n

$SOL<\/a> Bullish Pennant Upside Breakout has Confirmed on the Weekly timeframe..\u2705<\/p>\n

Massive Bullish Rally incoming..\u231b\ufe0f\ud83d\udcc8\ud83d\ude80#Crypto<\/a> #SOL<\/a> #Solana<\/a> pic.twitter.com\/9IT2o4Yafs<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) July 27, 2024<\/a><\/p><\/blockquote>\n

What\u2019s Next For Solana?<\/b><\/h2>\n

At the time of writing, Solana is trading at $184, marking a 7% increase over the past seven days. Captain Faibik suggested that this breakout could lead to an extended rally for Solana, and he set a price target of $1,000. This represents a 446% increase from the current price level. While this may seem ambitious, other crypto analysts <\/span>have made similar projections<\/span><\/a> amidst the <\/span>bullish sentiment<\/span><\/a>. SOL would need to break above various price levels and walk into a new all-time high to hit this price point.\u00a0<\/span><\/p>\n

\"\"<\/span><\/p>\n

Related Reading: Ethereum Open Interest Rises By $1.5 Billion \u2013 What This Means<\/a><\/div>\n

In addition to its price performance, Solana has experienced a significant surge in activity since the beginning of July. The number of daily active addresses has soared, reaching a new all-time high. At the time of writing, daily active SOL addresses stand above 2 million, which is a 38% increase from 1.45 million active addresses registered on July 10. This uptick in user activity further shows the growing interest and confidence in Solana within the crypto community.<\/span><\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana continues to showcase a positive price movement as it outperforms the rest of the market. This recent surge in value allowed Solana to surpass Binance Coin (BNB) in market capitalization rankings last week, marking a significant milestone for the digital asset. Related Reading: MANA Soars As Market Optimism Returns, Next Stop $0.3713 Level Delving deeper into its performance, technical analysis suggests that Solana’s bullish trend is likely to persist into the coming week. Indicators point to sustained momentum, which could see its price continue to climb. Captain Faibik stands out with a particularly bold prediction. The crypto analyst forecasted a substantial rally for Solana, projecting its price could soar to as high as $1,000. Bullish Breakout For Solana Technical analysis shared on social media platform X by renowned crypto analyst Captain Faibik has brought attention to a significant development for Solana’s price. According to his analysis, recent price movements have caused Solana to break out of a bullish pennant formation on the weekly timeframe. Bullish pennant patterns typically emerge after an uptrend and signal the continuation of this upward trend after a period of consolidation. For Solana, the formation of this pattern began with a strong price rally that started in August of last year, culminating in a peak above $200 in April. Following this peak, Solana entered a consolidation phase characterized by progressively higher lows and lower highs, eventually reaching a low of $127. Solana is experiencing renewed bullish sentiment, indicating that the consolidation phase might be ending. The cryptocurrency has recently surged past $185 again, confirming the bullish pennant breakout identified by Captain Faibik.\u00a0 $SOL Bullish Pennant Upside Breakout has Confirmed on the Weekly timeframe..\u2705 Massive Bullish Rally incoming..\u231b\ufe0f\ud83d\udcc8\ud83d\ude80#Crypto #SOL #Solana pic.twitter.com\/9IT2o4Yafs \u2014 Captain Faibik (@CryptoFaibik) July 27, 2024 What\u2019s Next For Solana? At the time of writing, Solana is trading at $184, marking a 7% increase over the past seven days. Captain Faibik suggested that this breakout could lead to an extended rally for Solana, and he set a price target of $1,000. This represents a 446% increase from the current price level. While this may seem ambitious, other crypto analysts have made similar projections amidst the bullish sentiment. SOL would need to break above various price levels and walk into a new all-time high to hit this price point.\u00a0 Related Reading: Ethereum Open Interest Rises By $1.5 Billion \u2013 What This Means In addition to its price performance, Solana has experienced a significant surge in activity since the beginning of July. The number of daily active addresses has soared, reaching a new all-time high. At the time of writing, daily active SOL addresses stand above 2 million, which is a 38% increase from 1.45 million active addresses registered on July 10. This uptick in user activity further shows the growing interest and confidence in Solana within the crypto community. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":631936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,4735,3505,12837,83626],"class_list":["post-631932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-price-action","tag-price-analysis","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nSolana Confirms Breakout With Bullish Pennant - Here\u2019s The Target<\/title>\n<meta name=\"description\" content=\"Solana continues to showcase a positive price movement as it outperforms the rest of the market. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Confirms Upside Breakout With Bullish Pennant – Here\u2019s The Target","url":"http:\/\/uniquehot.com\/news\/solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/a_c33792.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/a_c33792.jpg?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","price action","price analysis","sol","solana"],"dateCreated":"2024-07-28T13:30:08Z","datePublished":"2024-07-28T13:30:08Z","dateModified":"2024-07-28T13:30:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Confirms Upside Breakout With Bullish Pennant – Here\\u2019s The Target\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana-confirms-upside-breakout-with-bullish-pennant-heres-the-target\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/a_c33792.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/a_c33792.jpg?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"price action\",\"price analysis\",\"sol\",\"solana\"],\"dateCreated\":\"2024-07-28T13:30:08Z\",\"datePublished\":\"2024-07-28T13:30:08Z\",\"dateModified\":\"2024-07-28T13:30:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/a_c33792.jpg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/631932"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=631932"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/631932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/631936"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=631932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=631932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=631932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}