Is Solana Gearing Up for a Parabolic Move as SOL Mirrors 2021 Pattern?

Solana (SOL) continues to be one of the cryptocurrencies taking center stage thanks to its upside potential as various bullish indicators pop up.

For instance, Solana seems to be following in its 2021 footsteps, which has the potential to push the fifth-largest cryptocurrency to the $250 price zone.

Leading market analyst Ali Martinez acknowledged, “Solana seems to be mirroring the same price pattern we saw in 2021! Even the SOL RSI is at the same level it was back then before the big bullish breakout.”

Source: Ali Martinez

If Solana fully mirrors this pattern, SOL, based on Martinez’s analysis, could hit $250, $450, and $950 in the long run.

Trader Tandigrade recently shared similar sentiments, pointing out that Solana was forming a similar symmetrical triangle like that of 2021, which would thrust its price to the $800 level.

Will Solana Hit $200 in Short Term?

Renowned for its fast and cost-effective network since it merges the proof-of-stake (PoS) and proof-of-history (PoH) consensus mechanisms, Solana remains top-of-mind for investors.

As a result, SOL might be eyeing a possible double bottom that could scale to the psychological price of $200 after breaching major resistance at $154.

Source: TradingView

Similar sentiments were recently shared by a famed crypto YouTuber called Crypto Rover, who noted that Solana would go parabolic soon. 

Source: Crypto Rover

SOL was hovering around the $141 zone at the time of writing, according to CoinGecko data.

Meanwhile, the Solana memecoin ecosystem continues to gain steam after football giant Lionel Messi embraced WATER Coin (WATER), resulting in a 400% surge.