Solana Price Eyes $301 as Bulls Gain Momentum
Solana's price has been exhibiting repeating fractal patterns on its daily chart, suggesting a potential milestone of $301. This follows previous rallies of 50-80%. The recent move has transformed a former resistance zone into solid support, paving the way for buyers to push towards the mid-$200s. A clean retest at $210 has put Solana back in the spotlight, indicating that bulls are not ready to relinquish momentum. Zooming out, Solana's long-term chart shows a clean consolidation base with potential for exponential upside, with $1000 not out of reach if the current cycle continues. However, Solana faces a notable hurdle around the $250 mark, with a heavy concentration of sell orders creating a resistance wall that may temporarily cap upside momentum. CME open interest for Solana futures has surged nearly tenfold over the last two months, rising from under $200 million to almost $2 billion, signaling increasing institutional engagement. A clean break above $250 would confirm renewed demand and likely spark a stronger push towards $270 and beyond. Solana price has successfully retested its breakout zone near $210, keeping the ascending trendline intact. The current strong activity in Solana futures options is primarily driven by institutional investors, including hedge funds, proprietary trading firms, and crypto-focused investment funds. Solana retests $210 breakout zone, reinforcing its bullish structure and eyeing a move towards $320-$360. The structure suggests that the bullish momentum remains active, with Fibonacci extensions pointing towards the $320 to $360 range as potential upside targets. Solana's price is showing strong bullish signals, with institutional engagement increasing and fractal patterns hinting at further growth. However, a notable resistance wall at $250 may temporarily cap upside momentum. If Solana can break through this barrier, it could see a stronger push towards $270 and beyond, with $320-$360 as potential targets.
