Analyst: It is expected that SOL will have a decent increase next

Bitget news, crypto analyst Crypto Hunter has released a long and short term trend analysis for SOL. Looking at the short-term trend of SOL, from November 22 to December 3, SOL has completed three wave corrections. Starting from December 3, it began to oscillate upwards with both bottom and top getting higher. Moreover, the volume of increase is significantly larger than that of decrease indicating that buying power is stronger than selling pressure which gives a clear reversal signal. From time and space perspectives, this adjustment of SOL is quite sufficient so it's expected that the next rise will be relatively large.

From early March this year till now, SOL/BTC has formed a typical symmetrical triangle pattern. Yesterday it once again probed down to the lower edge of the symmetrical triangle and rebounded strongly giving another clear reversal signal.

With the rise in SOL price, SOL/BTC will effectively break through the upper edge of symmetric triangle pattern. According to calculations based on symmetric triangle pattern formation ,the target position for an upward move in SOL/BTC should be around 0.004 at channel's upper edge.

Since Solana (SOL) / Bitcoin (BTC) pair adjusted within hedge triangle for as long as nine months; after effectively breaking through symmetric triangle pattern there's high probability that its price would surge rapidly possibly reaching channel’s upper edge within one month meaning $SOL could reach over $400 within one month.
Even conservatively estimated,$SOL could still break through $300 reaching near $330.