Why Solana Could Poised For A 40% Price Move To The Upside

Solana has been one of the best-performing assets in the crypto 10 top by market pairing Ethereum’s wins during the weekend. The cryptocurrency has persevered some of its past week’s gains but records some hurdles over the past 24 hours. Related Reading: Dogecoin Ready For 4th Straight Week Of Gains – Even Without Elon Musk’s Backing At the time of writing, Solana (SOL) trades at $44.5 with 1% losses over the past day and 10% profits in the past 7 days. In this timeframe, only Ethereum (13% profits) and Dogecoin (13% profits) record better performance. Despite the short-term downside price action, crypto analyst Justin Bennett believes SOL’s price is on track to register a massive increase. This big move to the upside could play out over the course of the coming months and push Solana’s price into a 40% move to the upside. According to Bennett, SOL has drawn a triangle pattern over the past months. The price of Solana has been moving to the upper side of this triangle which should operate as critical resistance north of SOL’s current levels. In the daily chart below, and as stated by the analyst, the upper side of this triangle pattern can be traced to 2021 as SOL moved into its all-time high. As the price of Solana began a descending price action, the cryptocurrency found support along that line and saw a major breakdown once SOL trended below it. Now, the price is attempting to break above this triangle which could lea...