The Solana price has risen by 3.5% today, climbing to $148 as the cryptocurrency market recovers by 1.5% in the past 24 hours.
SOL remains down by 5.5% in a week, but has posted a 16% gain in a month and a 525% increase in the past year. Its movements today also come as one Crypto-Twitter analyst notes that the Solana price has formed a “massive pennant bullish continuation pattern,” and that it could rise as high as $800 over the next year.
While SOL has dipped a little in the past hour, its short-term momentum remains very promising, as underlined by its indicators.
For one, its 30-period moving average (orange) has just climbed over the 200-period average (blue), forming a ‘golden cross’ that often signals an incoming breakout.