Solana bulls have fresh reason for optimism after technicians spotted a bullish fractal reminiscent of the token’s late-2024 surge.
Bull Flag Builds Beneath $180 Ceiling
SOL spent two weeks consolidating below $180, carving out a textbook bull-flag pattern that typically precedes further upside.
The daily relative strength index sits at 64, far from overheated territory, suggesting room to run if buyers step in.
Fractal Echoes 2024’s Explosive Breakout
Crypto trader Robert Mercer highlighted similarities to October 2024, when Solana cleared $180 and sprinted to an eventual $260 peak.
He argues a decisive weekly close above $180 “could trigger a sharp upward rally, mirroring the late-2024 move.”
Analyst Javon Marks added that a hidden bullish divergence on the three-day chart once sparked a 1,332 percent rally, implying even $450 is conceivable should history rhyme.
Volume Remains the Missing Ingredient
Skeptics point out that spot buying volumes have faded during consolidation, leaving the breakout thesis contingent on renewed demand.
Failure to conquer $180 could send SOL toward support in the $140-$150 corridor, invalidating the flag.
Popular trader XO recommends watching for a clean flip of $180 into support before entering longs.
Macro Rotations Could Help
With Bitcoin setting records, some speculators anticipate a rotation of profits into major altcoins, a pattern seen in prior cycles.
Whether that shift materializes will depend on risk appetite, macro data, and how quickly new capital filters through ETFs into the broader crypto complex.
For now, Solana sits at the crossroads, with chart watchers fixated on a single number: $180.
