Solana Trader Predicts Major Breakout Ahead

Cryptocurrency markets have seen limited directional momentum in recent months, but one trader believes a breakout could be imminent. Darryl Wang, a well-known cryptocurrency trader, has identified Solana (SOL) as the most promising major asset for a near-term breakout.

Wang's analysis suggests that SOL's chart structure shows relative strength against both Ethereum (ETH) and Hyperliquid (HYPE), positioning it as the first large-cap cryptocurrency likely to break upward from its three-month trading range. If SOL decisively breaks through the $96 resistance level, the next major target would be around $120, representing a potential upside of approximately 25% from its current price.

The trader's prediction is not without caveats, however. Wang noted that he would place a bet on SOL's breakout as long as Bitcoin (BTC) does not fall below the $80,000 mark. This underscores the interconnected nature of the crypto market, where Bitcoin's stability often dictates risk appetite for alternative assets.