- Solana mirrors Ethereum’s 2024 breakout, suggesting a possible rally toward $340.
- A double-bottom pattern at $190 signals strong support for a bullish reversal.
- Mainstream adoption and institutional interest could drive Solana’s long-term growth.
Ethereum surged from $2,500 to $3,700 between December and March. A double-bottom formation fueled that rally. Now, Solana’s SOL is echoing a similar pattern, holding steady above $190. If history repeats, a breakout could send prices soaring. Traders watch $210 as a key resistance level. A move past that point may trigger an 80% surge. However, external factors like market trends and investor sentiment could shape the final outcome. Could Solana follow Ethereum’s path and hit $340 soon?
A Double Bottom Hints at a Breakout
Solana’s price action reveals a double-bottom pattern, signaling strong support near $190. This setup often suggests a trend reversal. Traders focus on $210 as the next critical level. A breakout above that resistance could drive prices toward $230 and beyond. Volume growth would confirm bullish momentum, strengthening confidence in further gains. If buyers hesitate, SOL may retest support before another push higher. A sustained rally beyond $210 could align with Ethereum’s past trajectory.
Mainstream Adoption Fuels Solana’s Growth
Pantera Capital has recognized Solana as a rising force in blockchain technology. Partnerships and payment integrations boost real-world adoption. More companies view Solana as a scalable solution for transactions.
Institutional interest also grows. The Crypto Task Force, Jito Labs, and Multicoin Capital explore staking in Exchange Traded Products—ETPs. These investment vehicles could attract major players. Increased liquidity and broader participation would strengthen Solana’s position in global markets.
Solana’s chart mirrors Ethereum’s 2024 breakout, showing strong support at $190. A move above $210 could push prices toward $340. Growing adoption and institutional backing add to bullish momentum. While risks remain, confidence in Solana’s potential keeps rising.