SOL has been forming a Bull Pennant following its 14,200% year-to-date price rally.
Read moreSolana chart ‘bull flag’ eyes $250 despite SOL price down 40% since last week
Meanwhile, the SOL’s latest downside move forms a classic bullish continuation structure, with a profit target above $250.
Read moreUniswap (UNI) price jumps by 15% in DeFi, cryptocurrency market rebound
The jump in UNI/USD rates has quickly met with sellers at local top levels.
Read moreSolana rally mimicking Ethereum? Why a $500 SOL price target could be ‘conservative’
The sixth-largest cryptocurrency by market cap remains one of the best performers despite the overall crypto market losing more than $200 billion.
Read moreSOL price nears $200 after FTX’s Solana-enabled NFT marketplace goes live
The latest bout of buying has pushed SOL/USD’s quarter-to-date gains up by more than 450%.
Read moreSolana extends rally with another new high — Why is SOL price up by 70% in one week?
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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