SOL has been forming a Bull Pennant following its 14,200% year-to-date price rally.
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SOL has been forming a Bull Pennant following its 14,200% year-to-date price rally.
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Meanwhile, the SOL’s latest downside move forms a classic bullish continuation structure, with a profit target above $250.
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The sixth-largest cryptocurrency by market cap remains one of the best performers despite the overall crypto market losing more than $200 billion.
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The latest bout of buying has pushed SOL/USD’s quarter-to-date gains up by more than 450%.
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The SOL price rally also appeared in the wake of “Ignition,” a global hackathon to build new platforms on the Solana blockchain.
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But is the Solana native token anticipating a big price correction ahead?
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The 14th largest cryptocurrency by market cap jumped by more than 55% after bottoming out at $20.14 on Tuesday.
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