Solana (SOL) is showing potential for a 125% rally following the formation of a specific technical pattern and the approval of an important upgrade by the community.
Technical Setup for Solana Price Growth
The current price chart for Solana shows the formation of a cup-and-handle pattern, which may signal an upcoming bullish move. At the current price level of $210.64, with a 4% increase over one day, SOL is looking to test key Fibonacci levels. A breakout above $275 could pave the way for further growth, potentially leading to target values of $367 and $460.
Community Support for Alpenglow Upgrade
The Solana community overwhelmingly approved the Alpenglow upgrade with 98.27% of the votes. This upgrade is expected to reduce block finality time to 150 milliseconds, making Solana the fastest major blockchain. More than half of the staked supply participated in the vote, reflecting strong support from validators.
Future Price Prospects for Solana
Current charts and support for the Alpenglow upgrade create positive prospects for Solana's price. If the price breaks $275, subsequent target measures could reach $460. However, investors should consider that the cryptocurrency market remains volatile.
Based on current technical analyses and community support for the upgrade, Solana is poised for significant growth in the upcoming months.
