Month-long consolidation puts Solana (SOL) price en route to $275

Solana (SOL) price technicals suggest SOL can hit $275 in the coming sessions.

The upside outlook for the world’s sixth-largest cryptocurrency by market capitalization comes as it consolidates inside a range that appears like a Bull Pennant.

In detail, Bull Pennants are bullish continuation indicators that form as the price consolidates inside a Symmetrical Triangle-like structure following a strong move upside.

The consolidation trend accompanies declining volumes, reflecting on the trend’s underlying weakness.

And, as the price approached the apex—the point where the Pennant’s trendlines converge, it tends to undergo a breakout to the upside, with the bull target at length equal to the height of the previous uptrend, i.e., Flagpole.

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