Solana price has surged recently, breaking key resistance levels amid a broader crypto market rally and technical improvements. Analysts highlight a bullish pattern, suggesting the potential for SOL to reach $3,000. Positive market sentiment and developments within the Solana ecosystem continue to fuel optimism among investors. Could this rally mark the beginning of a historic milestone? Solana Price Eyes $3,000 According to This Pattern Crypto analyst Ali forecasts that Solana price may be gearing up for a significant rally. According to him he highlights a potential cup-and-handle formation on its chart. This technical pattern is often associated with bullish breakouts, hinting that SOL could target the $4,000 level in the near future. The cup-and-handle pattern observed in SOL’s price suggests an accumulation phase followed by a breakout. Currently hovering near $216, Solana’s trajectory shows signs of consolidation near critical Fibonacci retracement levels. The analyst emphasizes that the $208-$240 range could act as a support zone, setting the stage for the next leg up. If the pattern holds true, the Fibonacci extensions project potential resistance at $477, $1,367, and $2,279 before reaching the ambitious target just shy of $4,400. A move to this level would mark an extraordinary 1,861% increase from its current price, showcasing the potential power of this technical setup. Solana’s recent momentum has also been fueled by a resurgence in on-chain activity and the broader crypto market’s bullish sentiment. Investors are closely monitoring these developments, as achieving these targets could place Solana among the top-performing assets in 2025. Source- Tweet SOL Technical Analysis: Forecasting Short-Term Targets The SOL price is trading at $217.08 on January 4, 2025,making a surge of 5% in the past 24-hours and 17% in the past week. This aligns with other surge in the crypto market, with BTC edging close to$100k . The Awesome Oscillator (AO) displays positive momentum, with green bars extending upward, indicating buyers’ increasing control. The Relative Strength Index (RSI) has entered overbought territory, sitting at 70. This suggests the market may witness a short-term cooldown before another leg upward. A key resistance zone is seen at $225. Breaking this level could propel the Solana price forecast toward $263.83, a critical target ATH. Beyond that, the next psychological resistance stands at $300, aligning with a possible longer-term bullish trajectory. However if bears makes a comeback, the SOL price will break below the $200 support level. Solana Price Chart: TraddingView The Solana price bullish momentum, fueled by technical patterns and market sentiment, positions it for potential highs. Achieving $3,000 depends on breaking key resistance zones and sustaining current positive trends. The post Can Solana Price Hit $3,000? This Pattern Says It’s Possible appeared first on CoinGape .
