Solana price is slowly forming a rare sample: can Sol rise 270%?

Solanana price was under pressure in the last two months in the middle of growing concerns about its ecosystem.

Solana (Salt) fell from her age of High $ 295.52 on a little $ 112 this week, deleting $ 71 billion in a $ 139 billion in $ 68 billion to $ 68 billion.

Solan Collision was due to the current Cripto Crash It has brought a total market cap of the entire industry to $ 2.8 trillion.

The decline in prices is also fueled by growing concerns due to the Solanese ecosystem, which has become all connected to Memen coins. Market cap of all Solana Meme Coins Tracking C Coingecko is more than $ 25 billion earlier in the amount of $ 7.7 billion. The key concern is that many of these men’s coins turned out to be fraud.

Another solanine weighing factor values ​​is a large unlocking token held earlier this month, related to recent FTX distributions. Token unlock introduces multiple tokens in circulation, leading to potential dilution and pressure down at a price.

Solana also lost its market share in DEX industry to Ethereum (El). Toward Defi Llama, The total volume shows DEX protocols online in the last 30 days amounted to 76.95 billion dollars, lower than Etherum $ 84 billion.

Technical analysis of the prices of Solana

The positive side signs suggest that Solana could handle a strong return after the current crypto crashes.

The weekly graph shows that the accumulation and distribution indicator continued to increase over the last few months, signals that investors accumulated salt during the fall.

Most importantly, Solana formed a pattern of glasses and handles, creating a bakery characterized by a rounded bottom, a horizontal line of resilience and return.

In case of Solana, the horizontal line connects the highest levels of 2021. and 2024. years. The current withdrawal is the formation of the handling compartment. If Solana is above $ 100, there is a strong probability that it might make it a gathering.

The cup has a depth of about 95%. The measurement of the same distance from the cup of the cup suggests a possible increase in $ 505, it means an increase of 270% from the current level.

The key warning is that the patterns of the glass and handling it takes time to complete, which means that the overpower of 270% could last for months or even years. For example, it took three years to shaped the Cup section.