Solana Replicates Past 100% Surge Signal...Will it Break $85 and Head Straight for $100?

▲ Solana (SOL)

Solana (SOL) is once again replicating a powerful technical bullish signal that previously led to returns of over 100%, foreshadowing a full-fledged price surge.

According to cryptocurrency media outlet Cointelegraph on April 24 (local time), a bull flag pattern was recently identified on the Solana chart. This is a typical bullish signal that appears when the price consolidates in a flag shape and then breaks through the upper resistance line. In the past, when the same signal was detected, Solana's price surged by over 100% in a short period, surprising the market.

Currently, Solana's open interest has surged by 20% in a week, reaching $4.2 billion. This is a significant figure indicating active market participation by institutional investors and whales. Analysts predict that Solana will reclaim the $100 mark in the short term, using the $85 level as a solid support base.

The recent vibrancy in the memecoin market also provides strong momentum for Solana's uptrend. The surge in decentralized exchange trading volume within the network suggests that real demand is supporting the price. Furthermore, news of easing geopolitical tensions in the Middle East has stimulated risk asset preference, acting as a positive catalyst for the broader cryptocurrency market, including Solana.

From a technical perspective, the $127 level, where the 200-day moving average is located, is identified as the next target and a major resistance level. Key auxiliary indicators, such as the Relative Strength Index, also signal that there is still ample room for further upside. If the $100 mark is stably broken, there is a high probability that a large-scale rally targeting up to $200 by the second half of 2026 could materialize.

Expectations for a Solana spot ETF, a channel for institutional fund inflow, are also gradually growing within the market. The ecosystem's robust technology and user base are key reasons for strong downside rigidity even during price declines. Solana is currently seizing market leadership in the altcoin market and entering a new price formation phase.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*