The post Solana’s liquidity sweep – Mapping SOL’s road from $200 appeared on BitcoinEthereumNews.com.

Solana sweeps the liquidity after a bullish breakout from a consolidation pattern. Polymarket predicts a 77% probability of a Solana ETF approval in 2025. Solana’s [SOL]  saw a breakout from an ascending triangle pattern, leading to a swift upward movement. This breakout resulted in Solana sweeping through key liquidity zones marked earlier. After crossing $182, SOL is rapidly approaching higher liquidity clusters near $213 and subsequently $230, with each zone representing potential resistance or support levels. These liquidity clusters are areas where significant trading activity occurs, influencing future price action. Source: Hyblock Capital Should Solana breach these levels, it could either face sell-offs at resistance points or find strong buying support if it dips to lower zones. This dynamic sets the stage for potential further gains if SOL successfully consolidates above these critical levels and maintains its upward trajectory. This pattern suggests that SOL could sustain its rally, with a potential push past $230 if conditions remain favorable. Price action and prediction After Solana broke above the $200 level, it confirmed a bullish continuation from its previous consolidation below this threshold, as noted in an earlier AMBCrypto analysis. This breakout aligns with the formation of an ascending triangle pattern, signaling accumulation and suggesting potential for further upward movement. Notably, the price touched a high of $208.69, consolidating gains and setting the stage for further advances. Source: TradingView The next key resistance level is around $230, based on previous highs within the consolidation zone. If the bullish momentum continues, Solana could challenge these levels, potentially sparking a rally that may extend into mid-year. This indicates the strength and continuation of the current bullish trend, with $182 serving as significant support and $230 as the upcoming target. SOL ETF, market cap and TVL According to Polymarket’s prediction, there is a 77% chance that…

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Filed under: News - @ January 4, 2025 1:23 am