Technical indicators suggest that Solana may rally to 300 USD, reflecting a 70% potential increase from current prices. Historical patterns combined with Fibonacci extensions outline a bullish scenario.
Solana is trading at 172.30 USD with significant open interest of 7.5 billion USD indicating strong trading activity. However, negative funding rates may suggest a short squeeze could occur.
Despite the potential upside, the presence of a possible double top pattern raises concerns, which could lead to retests near the 157 USD support level if the bullish trend fails.
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