{"id":63162,"date":"2025-04-30T15:01:18","date_gmt":"2025-04-30T15:01:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=63162"},"modified":"2025-04-30T15:01:18","modified_gmt":"2025-04-30T15:01:18","slug":"tension-builds-solana-sol-on-the-verge-of-a-huge-move","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=63162","title":{"rendered":"Tension Builds: Solana (SOL) on the Verge of a Huge Move?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Solana\u2019s Bollinger Bands have tightened on the 4-hour chart, a technical signal that sometimes precedes enhanced turbulence.<\/span>
\nDespite a mild retreat in the last few days, analysts remain bullish on SOL, with price targets ranging from $240 to over $300.<\/p>\n

<\/a><\/span><\/h2>\n

Silence Before the Roar?<\/h2>\n

Solana\u2019s SOL has been on a slight downtrend in the past week, with its valuation slipping by 3% and currently trading at roughly $148 (per CoinGecko\u2019s data). Over the last several hours, it experienced little to no volatility, ranging from $145 to $149.<\/span><\/p>\n

One <\/span>important<\/span> metric<\/span>, though,<\/span> suggests this calmness could be a precursor of a massive price action in the short term.<\/span> The indicator in question is the Bollinger Bands, which<\/span>, <\/span>according<\/span><\/a> to the popular X user Ali Martinez,<\/span> has squeezed on SOL\u2019s four-hour chart.<\/span>\u00a0<\/span><\/p>\n

Developed by John Bollinger in the 1980s, this technical tool helps traders identify when an asset may be overbought or oversold, signaling a potential trend reversal. <\/span>When the bands tighten, it typically indicates a period of low volatility, which could be imminently followed by a substantial resurgence or a considerable pullback.<\/span><\/p>\n

This pattern has also appeared on the charts of other cryptocurrencies and, on some occasions, has been followed by a notable bull run. For example, in December last year, XRP\u2019s Bollinger Bands <\/span>tightened<\/span><\/a> significantly when the price hovered around $2.10. <\/span>Just a<\/span> few weeks later, the asset <\/span>soared<\/span><\/a> to nearly a new all-time high of approximately $3.40.<\/span><\/p>\n

We have to <\/span>make a disclaimer<\/span> that the squeezing bands might have played their role, but the entire cryptocurrency market was also rallying at that time. Bitcoin (BTC), for instance, <\/span>reached<\/span><\/a> an ATH of just south of $110K.\u00a0<\/span><\/p>\n

Price Targets<\/span><\/h2>\n

Despite the setback on a weekly scale, SOL is up almost 20% for the month, and some analysts believe the uptick is about to continue.<\/span><\/p>\n

Jelle <\/span>told<\/span><\/a> his over 100,000 followers on X that Solana\u2019s monthly candle \u201cis not looking too shabby,\u201d indicating it might be time for another test of $240. The last time the price was trading so high was at the end of January this year.<\/span><\/p>\n

Earlier this month, BitBull also chipped in. They <\/span>assumed<\/span><\/a> that SOL could be gearing up for a \u201cmassive move\u201d this year, which might mimic Ethereum\u2019s explosive performance in 2021. The analyst thinks the $120-$130 was an accumulation zone, setting a target of over $300.<\/span><\/p>\n

Recall that Ethereum (ETH) traded at around $730 at the start of 2021, whereas by the end of the year, it hit an ATH of almost $5,000, representing a 560% price increase.\u00a0<\/span><\/p>\n

The post Tension Builds: Solana (SOL) on the Verge of a Huge Move?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Solana\u2019s Bollinger Bands have tightened on the 4-hour chart, a technical signal that sometimes precedes enhanced turbulence. Despite a mild retreat in the last few days, analysts remain bullish on SOL, with price targets ranging from $240 to over $300. Silence Before the Roar? Solana\u2019s SOL has been on a slight downtrend in the […]<\/p>\n","protected":false},"author":0,"featured_media":63163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-63162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/63162"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63162"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/63162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/63163"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}