Solana Price Breaks Out of Downtrend, Targets $100

The cryptocurrency market has been volatile in recent days, with the Solana price experiencing a significant breakout from its multi-month downtrend.

On Wednesday, the Solana price surged 6% to $84.6, breaching the resistance trendline of a falling channel pattern in the daily chart.

This development has led some analysts to predict that the asset could push as high as $100, followed by a potential leap towards $118.

However, if the price reenters the channel pattern with a bearish breakdown, the sellers could regain control and drag the asset value below $80.