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SOL SOL ushered in its first monthly positive line in ten months, and bullish momentum has increased significantly.
Solana (SOL) has recently appeared a number of signals that may change the current market landscape. SOL has just ended a ten-month downward cycle and closed its first monthly positive line in a decade, indicating that market sentiment is improving. At the same time, the month-level MACD indicator is approaching the bullish crossing, while the RSI indicator breaks through the two-year downward trend line. In addition, the continued increase in holdings of giant whales has also added new impetus to this bullish pattern. Although SOL still faces resistance in the US$100 to US$120 range, once an effective breakthrough is achieved, prices are expected to move towards US$150. Currently, traders are paying close attention to whether the momentum behind the rebound is enough to support subsequent trends.
Solana builds a stronger long pattern
SOL prices are currently trading around $102 after a 3% correction in 24 hours. The slight decline in the short term has not erased the overall recovery trend. In the past 30 days, SOL has gained 34.8%, with the price range of $102.28 to $105.20 in the latest trading session. Currently, the monthly chart shows three important technical signals:
First, SOL closed out the monthly positive line for the first time in ten consecutive months. This pattern shift usually signals an improvement in market sentiment, but traders still need to wait for confirmation from other momentum indicators to further verify bullish expectations.
Secondly, the monthly MACD indicator provides a second key signal. The indicator is approaching a potential bullish cross, and although it has not yet been confirmed, once confirmed, it will strengthen expectations for a larger trend reversal.
Third, the monthly RSI indicator brings a third positive development. This indicator recently broke through the downtrend line that has controlled it for about two years. If this breakthrough is maintained, it may indicate that long-term buying pressure is increasing.
Cryptocurrency analyst Ash Crypto pointed out this emerging layout on social media X, calling SOL one of the strongest long positions in the crypto market. However, he did not directly conclude that a trend reversal had been established. Previously, SOL had traded above $200 before falling back to the $60 area. The $60 to $80 range is critical to the current recovery structure, and holding this range helps maintain the integrity of the overall bullish pattern.
Daily gold crosses towards the US$150 target
Daily charts also provide another bullish signal for SOL. Analyst 0xSweep pointed out that SOL has formed a new "golden cross." The golden cross refers to the phenomenon of the short-term moving average crossing the long-term moving average. Analysts compared the signal to previous crossovers, pointing out that after a similar technical pattern emerged, SOL rose about 56.22%, eventually pushing prices into the $250 region.
If current prices are calculated at the same rate, potential targets may exceed $150. This potential market may unfold before the end of October. However, historical performance does not guarantee a similar rally in the future, and fundamental growth also supports the improvement of Solana's narrative.
Solana's real-world asset (RWA) ecosystem recently hit a new high, with a total value climbing to approximately US$4.35 billion. The number of RWA holders on the Internet also exceeds 420,000. Such growth highlights the expansion of on-chain activities from purely speculative trading to a wider range of application scenarios. Stronger adoption rates will provide additional support in the broader market recovery. In addition, Solana dominates Memecoin's transaction traffic among various major chains tracked recently.
