Solana Price Prediction: SOL Soars 20% In A Week As Bullish Pennant Emerges, But Is This New Base Crypto A Better Pick?

The
Solana
price
has
surged
20%
in
the
past
week
and
5%
in
the
last
24
hours
to
trade
for
$168.15
as
of
09:00
a.m.
EST.

Amid
this
pump,
analysts
observe
a
bullish
pennant
on
the
SOL/USD
trading
pair
in
the
one-day
timeframe.

????

#Solana

$SOL
HUGE
PENNANT
on
the
1D
chart!

Watch
out
for
this
price
action!

https://t.co/GF2BfV0Dtv

pic.twitter.com/Hlh73PKHq9

—
CryptoBusy
(@CryptoBusy)

July
18,
2024

A
bullish
pennant
pattern
in
crypto
trading
is
a
technical
analysis
indicator
formed
when
the
price
of
an
asset
experiences
a
sharp
upward
movement
followed
by
a
consolidation
period,
during
which
the
price
trades
within
converging
trend
lines,
resembling
a
pennant
shape.

This
pattern
typically
suggests
that
there
is
a
temporary
pause
in
the
uptrend
and
that
the
price
is
likely
to
continue
in
the
same
direction
once
the
consolidation
phase
is
completed.
Traders
often
see
this
pattern
as
a
potential
continuation
signal,
indicating
that
the
bullish
trend
may
resume.

Meanwhile,
data
shows
that
Solana
outperformed
both
Bitcoin
and
Ethereum
in
weekly
blockchain
trading
revenue
from
non-fungible
tokens
(NFTs).

????
BREAKING:

@solana
surpasses
Bitcoin
&
Ethereum
in
weekly
blockchain
trading
revenue
(from
NFTs).

Dominance:
42%
Trading
Revenue:
$356K

pic.twitter.com/uRsHyexnLj

—
SolanaFloor
(@SolanaFloor)

July
18,
2024

Solana
Price
Prediction

To
the
naked
eye,
the
Solana
price
is
trading
with
a
bearish
bias,
having
recorded
a
series
of
lower
highs.
However,
a
trained
eye
will
see
that
this
price
action
has
formed
a
bullish
pennant
pattern
with
key
factors
supporting
a
further
upside.

The
bull
flag
nobody
is
talking
about!

#Solana

$SOL

pic.twitter.com/PoX8zpz5HH

—
Ali
(@ali_charts)

July
18,
2024

To
start
with,
it
has
overcome
resistance
due
to
the
50%
Fibonacci
placeholder
of
$163.92
and
is
testing
the
upper
boundary
of
the
pennant.
Overcoming
this
barrier
could
activate
the
bullish
governing
pattern,
setting
the
tone
for
further
upside.

Secondly,
the
Relative
Strength
Index
(RSI),
an
indicator
measuring
momentum,
has
breached
its
mean
level
of
50.
Its
higher
lowers
and
overall
northbound
inclination
suggest
that
the
momentum
is
rising,
which
sends
the
Solana
to
price
further
north.

The
Moving
Average
Convergence
Divergence
(MACD)
accentuates
the
bullish
thesis,
as
it
holds
well
above
the
signal
line
(orange
band).
 Its
green
histograms
show
prevailing
bullish
sentiment,
with
the
Solana
price
likely
to
extend
the
climb.

Based
on
the
Fibonacci
retracement
indicator,
a
further
upside
could
send
the
Solana
price
to
$174.53
or
higher
to
test
the
$187.66
threshold.
If
the
target
objective
of
the
bullish
pennant
is
achieved,
however,
determined
by
measuring
the
longest
distance
between
the
trendlines,
the
Solana
price
could
rally
77%
north,
breaching
the
$208.89
peak.

GeckoTerminal:
SOL/USD
1-day
chart

Converse
Case

On
the
flip
side,
a
rejection
from
the
upper
trendline
of
the
channel
could
see
the
Solana
price
drop
to
test
the
61.8%
Fibonacci
retracement
level.
If
this
level
holds
as
support,
it
could
provide
a
jumping-off
base
for
a
further
upside,
potentially
activating
the
bullish
pennant
with
a
breakout.

However,
if
the
aforementioned
level
breaks,
the
Solana
price
could
extend
the
fall
to
the
71.8%
Fibonacci
retracement
level
of
$138.20.
A
break
and
close
below
the
lower
trendline
of
the
pattern
would
invalidate
the
bullish
thesis.

Even
as
the
Solana
price
teases
with
a
bullish
chart
pattern,
investors
are
channeling
funds
into
Base
Dawgz
(DAWGZ),
a
new

Base
meme
coin
that
Crypto
YouTuber
ClayBro
says
could
“create
millionaires.”

Promising
Alternative
To
Solana

DAWGZ
is
the
native
cryptocurrency
for
the

Base
Dawgz
ecosystem,
which
aims
to
appeal
to
investors’
adventurous
spirits.

It
features
a
base-jumping
Shiba
Inu
and
characters
such
as
Wojak
and
Doge-based
memes
all
strapped
with
base-jumping
gear
and
soaring
through
the
skies
after
jumping
out
of
a
plane.

Base
Dawgz
considers
Base
its
home
but
it
can
be
stored
and
extracted
through
other
blockchains.
The
multi-chain
functionality
is
provided
by
Wormhole
and
Portal
Bridge
technology.
Wormhole
is
a
message-passing
protocol,
while
Portal
is
a
blockchain
bridging
system.

Base
Dawgz
thus
brings
a
multi-chain
experience
and
$DAWGZ
will
also
trade
on
ETH,
SOL,
BSC,
and
AVAX.
This
chain-hopping
ability
makes
it
a
real
gripper,
as
you
can
claim,
store,
and
trade
it
seamlessly
on
Ethereum,
Solana,
BSC,
and
Avalanche.

It
is
like
a
base
jump
through
the
blockchains,
landing
wherever
you
choose.

Base
Dawgz
has
also
implemented
a
unique
competition-based crypto
airdrop model.
This
feature
rewards
creative
social
engagement
with
$DAWGZ
tokens.

Presale
investors
accumulate
points
by
posting
on
Base
Dawgz’s
social
media
accounts.
Users
with
the
highest
points
win
the
most
tokens
airdropped
to
them.

We
did
it

$DAWGZ!

$2.5
MILLION
reached
????
we’re
soaring
now
and
it
doesn’t
look
like
we’re
slowing
down
????

pic.twitter.com/XY0rUztKpV

—
Base
Dawgz
(@BaseDawgz)

July
15,
2024

To
participate
in
the
presale,
buy
DAWGZ
for
only
$0.006405
and
join
investors
who
have
already
pumped
more
than
$2.5
million
into
the
project.
Don’t
wait
too
long,
though,
because
a
price
hike
is
coming
in
less
than
4
days.

Visit
and
buy
Base
Dawgz
here.

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