Right now, Solana (SOL) appears to be sitting inside a parallel channel that could trigger a rally back to triple digits. The mid-range barrier at $78 is playing a pivotal part here: if successfully breached, this opens up the likelihood of Solana touching the upper boundary at roughly $100.
Bi-Fold Catalyst Bursts Out With Solana’s $100 Dream
With the MACD indicator now pointing to a Golden Cross, no wonder seasoned market analysts like Ali Martinez are setting up $100 near-term targets. Another key indicator is the Tom DeMark Sequential. That’s based on a 9-candlestick formula assessing whether to issue a ‘buy’ or ‘sell’ signal on selected time-frames.
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While the smaller timeframes are extremely flexible and less durable, the one-day Solana price charts gives us a better idea of where the next support cluster lies. While the TD Sequential printed a ‘buy’ signal on the one-day charts, it’s important to look for confirmation around the $78.70 level before going all out.
This setup typically anticipates a 1–4 candle upswing or the start of a new bullish countdown. If that’s the case, Solana’s price could restore the $100 tag for the first time since early February. Conversely, if another crypto market correction occurs, the next major support bubble lies at approximately $59.
Some Bull Power Restored Via TSI: What To Watch Next
The True Strength Index (TSI) is crossing over, even though both pink & blue oscillations are still slightly in the red. If the indicator turns positive & sustains above zero, a reclaim of the $78 area could boost the bullish thesis. That’s well amplified with the Bull Bear Power (BBP) metric, slightly turning the scales towards green levels after a few red-soaking days.
Now, the hot question is: will crypto bulls recapture that $78 mid-range territory ahead of the Consumer Price Index (CPI) meeting? Many market connoisseurs have their eyes peeled on Wednesday’s CPI stats, which tend to affect major-cap altcoin prices, including Solana (SOL).
A hotter-than-expected inflation reading can surely apply extra pressure on speculative asset classes. On the other hand, a softer CPI rate creates a pleasurable atmosphere for risk-on assets, potentially pushing Solana (SOL) to conquer the overhead resistance with dominance.
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