Will Solana (SOL) Stage a Riotous Comeback? You Won’t Believe the Graphs!

by

Well now, folks, if it ain’t taken its sweet time, but Solana (SOL) is finally shakin’ its tailfeathers and makin’ a proper dash to the upside. Just how high is this $SOL balloon gonna float? Is it fixin’ to usurp the throne from Bitcoin (BTC) and Ethereum (ETH)? 🧐

$SOL Price Nears the Summit of the Rising Wedge – Pullback Coming?

The short-term chart for $SOL presents a delightful little ascent within an ascending wedge—like a stubborn mule leapin’ over a fence—having already vanquished the $184 resistance. But hold your horses! 🐴 As the price finds its way to the peak of this wedge, and the indicators on the Stochastic RSI are up there like high-flyin’ kites, one must tread lightly. It might just be time for a little dip, my friends, as this could be the perfect moment for a pullback.

Whether this pullback is merely a stroll back to the base of the wedge—and the $184 resistance level—seeking to confirm itself as sturdy support, remains a question for the ages! 🤔

Retest of the $184 Level – The Favorites Were Right!

The daily chart offers a bit of gossip, revealing that our $SOL bulls have managed to strut around with their heads held high, achieving an all-important higher high. But lo and behold, it appears we’ve got some business to settle; a retest of the $184 level seems to be on the horizon before the price decides to take off like a jackrabbit. 🐇 The indicator lines for the Stochastic RSI might just slide back down to around 80.00, but fear not! They may rally back up, beckoning continued buying like moths to a flame.

$SOL W Pattern on the 2-Week Chart: The Plot Thickens!

Peering much further out into the 2-week view reveals a chart lookin’ as fine as a new penny, suggestin’ great prospects for the long game with $SOL. Everything hinges on whether the $SOL bulls can plant their flag at the $184 resistance level, turnin’ it into a veritable fortress of support. If they can pull that off, a W chart pattern could be on the menu, possibly liftin’ the $SOL price over that elusive $252 resistance like a well-timed joke at a dinner party. 🎉

SOL/ETH Turnaround on the Horizon?

Lastly, as we gaze upon the SOL/ETH chart, one can’t help but wonder if a delightful turnaround is in the cards. $ETH has been throwin’ its weight around recently, with a 43% hike in its ratio to $SOL. Is a shift in power comin’ soon, or is our dear $SOL merely confirming the collapse of a broadening wedge? 🤷‍♂️

Now, the indicators on the Stochastic RSI may be poised for a bullish flip for $SOL, and that could spell big news for those plucky bulls! Plus, let’s not ignore that a whopping 75% of all crypto transactions are doin’ the tango on the Solana network, while a mere trickle wobbles along on Ethereum or its layer 2s. In a race where speed and cost matter, Solana just might cross the finish line first! 🏁

Read More

2025-07-21 14:26