Will Solana’s “Megaphone” Pattern Breakout Trigger Price Rally to $100?
Solana's price is at a critical juncture, potentially breaking out of a “Megaphone” pattern and rallying towards $100, but faces risks of a decline.Summary
Solana is currently experiencing uncertainty with fluctuating price action, caught between bullish and bearish signals. While the network onboarded 1.1 million new addresses recently, the overall momentum is declining, which could signal weakening ecosystem activity. The CBD Heatmap indicates active buying at varying prices, creating a consolidation range. Currently, Solana is forming a “Megaphone” pattern, a neutral formation that could lead to a sharp price swing in either direction. The Chaikin Money Flow indicator suggests continued capital inflows, potentially driving the price towards $92 and then $97. However, sustained selling pressure could push the price down to $81 and potentially $77, invalidating the bullish outlook.
(Source：BeInCrypto)