The Rise of Solana: Will It Spark an Even Stronger Price Surge?

Recently, the famous cryptocurrency analyst known as Cryptollica posted an interesting analysis on platform X on April 18, related to the price action of Solana (SOL). In the chart shared by this expert, the price of SOL has recovered from an important support zone – a technical signal that could pave the way for a strong bullish move, possibly reaching the 2,000 USD mark in the future. Bullish channel: Key technical pattern According to the technical analysis chart on the 1-hour timeframe, the price of Solana is currently moving within an (ascending channel). This pattern is defined by two upward sloping trend lines: one line connecting the highs (resistance) and one line connecting the lows (support). Typically, in a bullish channel, the price will fluctuate between two trend lines. The lower line acts as a strong support zone, while the upper line serves as a resistance level. Investors can take advantage of the "buy low - sell high" trading strategy or wait for a breakout above resistance to confirm the continuation of the trend, or a breakdown below support to confirm a trend reversal. The price action of SOL from 2020 to now Since mid-2020, the price of SOL has moved in and out of this bullish channel multiple times. During the bull run of 2021, the price broke out strongly from the channel. However, after the collapse of the FTX exchange in November 2022, SOL returned inside this channel and has continued to fluctuate within it to this day. It is noteworthy that since 2022, the lower support line of the bullish channel has continued to serve as a solid anchor. Most recently, when the price dropped near the 100 USD level in March, SOL once again bounced back from this support line. Potential scenario for Solana If this support zone continues to hold strong in the coming time, the price of SOL could completely rise to the zone of 2,000 USD by mid-2026, according to Cryptollica's prediction. However, in the short term, this coin needs to break through the strong resistance zone around the level of 295 USD – this is a key technical barrier. Conversely, if the price breaks below the support line of the bullish channel, Solana could face a deep decline, potentially down to the 20 USD zone – a historical low that occurred after the FTX collapse. Conclusion The recent recovery of Solana from the support zone indicates a positive signal. However, with the cryptocurrency market being very volatile, investors need to carefully consider and monitor important support - resistance zones before making a decision. The price level of 2,000 USD could be an attractive target, but the journey to achieve it will not be easy.