The rare pattern shows that Sol Rally just begins

Solana Price has risen for two consecutive weeks and is now hovering at its highest levels since February, and technologies suggest that the gathering has just started.

Solana (TellerIt rose to $ 177 on Monday, an increase of 85 % from its lowest level in April, giving it a market ceiling more than $ 90 billion.

The boom coincided with continuous gains in the encryption markets and securities. More importantly, this happened as most of the Solana Mimi currencies jumped, which led to the ceiling of the market from $ 6 billion in April to $ 15 billion today.

Some of the Solana Meme coins were from the top DogwFhat (wif) Popcat (PopCat), Sudanese beans of squirrels (pnut), And gigachad (Goga).

This growth led to more flows in the decentralized financing protocols in the Solana ecosystem, raising the total value to approximately 10 billion dollars.

This also led to more stablecoin growth on the network, as the total money increased to about $ 14 billion. The highest stablecoin activity is a sign that the encryption network is more active, as these symbols are commonly used to facilitate transactions.

The price of Solana jumped with the size of the Dexs. I dealt with the transactions that value 3.4 billion dollars In the past 24 hours, higher than 2.65 billion dollars from BSC and $ 2.1 billion from ETAREUM. She tackled 82 billion dollars in transactions at the last 30 days, which is much higher than ETHEREUM.

Solana also has more potential stimuli, including upcoming Sol ETF approvals and accumulation by Wall Street companies such as Janover and Upexi. It is possible that it will benefit from this as Bitcoin (BTC) is expected to continue to rise in the coming months.

Technical analysis of prices in Solana

The weekly graph shows that Solana gathered from the lowest level last month from 94.50 dollars to $ 176. It is still slightly lower than the critical resistance level at $ 258, which represents the upper limits of the cup style and the selection that has been formed since November 2021.

Solana remained over the moving average for 50 weeks, while the RSI and MacD indicator indicate the top.

The cup depth is about 97 %, indicating a possible target of $ 500. This goal is derived by dropping the same distance from the top of the cup. The decrease under the bottom border of the handle at $ 94.50 will nullify the upscale expectations.