Solana (Sol) has become an important headline after an impressive gain of 20.89% during the last week. The Solana price is now comfortably within the price range of $ 240 and is just 18.05% of its current maximum of all time to $ 294. Curiously, the renowned expert in the market Ali Martínez has noticed a positive effect of the recent increase in sun prices, which points to a sustained prices demonstration.
Sol increases above the key $ 205 Resistance: Fibonacci levels point to $ 362
In an X position on September 13, Martínez shares an in -depth technical analysis of the Solana pricing structure, which shows a significant potential for a prolonged upward trend. In particular, the solo price gain last week resulted in a rupture of a key ascending triangle, indicating a strong bullish impulse that projects higher objectives of the middle of the period.
Looking at the table next, the last price increase effectively lifted Solana above the resistance zone of several months about $ 205, where the price had established between April and August. It is clearly observed that break over this resistance, combined with the highest sustained minimums that formed the ascending triangle, points to a classic bullish continuation pattern.
In particular, the introduction of Fibonacci extension levels provides more information about the bullish potential of this recent rupture. The immediate objective price is currently in the extension of 1,272 fibonacci around $ 250, followed by extension 1,414 about $ 277. However, if the impulse continues, Solana could reach more upward levels, around $ 321 (extension of 1,618) and the final objective of half of the period to $ 362, which corresponds to the extension 1.786.
On the negative side, the $ 205 rupture zone now serves as critical support. Holding above this level is crucial to maintain the bullish perspective, since a decisive rest underneath could open the door for a reestima of the lowest fibonacci backward areas, particularly around $ 176 or $ 156. However, the increasing trend line that has supported the price action since April adds another structural support layer for bulls.
Solana pricing perspective
At the time of writing, Solana is traded at $ 246, which reflects a modest gain of 1.67% in the last 24 hours. However, the negotiation volume has decreased abruptly by 27.53%, currently to $ 7,49 billion.
According to Coincodex analysts, the feeling of investors to Solana remains widely optimistic, even when the greed and fear index is in a 52 neutral. Its short -term perspective suggests a limited price movement, with the projected asset to remain around $ 247 for next month. Looking later, analysts expect Solana to rise to $ 264 in the next three months, highlighting constant but moderate growth expectations.
However, with a market capitalization of $ 131.65 billion, Solana continues to classify as the fifth largest cryptocurrency in the world.
