Solana (SOL) Hits a 9-Month Peak as Analysts Project an Explosion to $500

Solana’s native token, which plunged below $100 in mid-September, now trades near $120 after a solid 16% weekly pump. Of course, the main catalyst for that move is the broader market resurgence, with Bitcoin (BTC) briefly soaring to $87,000.

The big question now is whether SOL is gearing up for a further ascent or a short-term correction, and most analysts support the bullish scenario. New ATH Incoming?

Earlier this month, Ali Martinez spotted a bull flag forming on SOL’s 4-hour chart and said he will watch the $105 level closely. The analyst assumed that a sustained close above (as it has happened) could confirm the bullish breakout and set the stage for a rally toward $130.

Many other analysts have also weighed in on the matter following the latest pump. X user Ash Crypto argued that SOL has one of the most bullish setups among altcoins right now.