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Five major buy signals for SOL now! Technical pattern resonance indicates a push towards historical highs, and Meme coins collectively explode with the tailwind of ETFs.
Solana (SOL) shows a strong bullish resonance in both technical and fundamental aspects. The daily chart triggers five major buy signals (golden cross pattern, breakout from the descending channel, confirmation of the cup and handle pattern, etc.), with the target aimed at the historical high of 280 USD. Favorable macro information adds to this: the U.S. promotes the application of encryption payment through the "Genius Act", and the first Solana ETF has been approved for launch. On-chain data verifies the rise: SOL 24-hour volume has seen a big pump of 70% to 9 billion USD, and the DEX weekly volume has risen by 22%. The Solana ecosystem Meme coins (PENGU, BONK, SPX, etc.) soar collectively due to ETF expectations, with PENGU rising 400% this month.
Macroeconomic tailwinds support the launch of SOL ETF and the passage of the Genius Act
Solana (SOL) recent strong performance is driven by dual macro favourable information:
Meme coins borrow ETF expectations to collectively surge, on-chain volume skyrockets
The popularity of the SOL ecosystem is spreading to the Meme coin sector:
PENGU ETF Application Catalyst: Canary Capital submitted the Pudgy Penguins (PENGU) ETF application, driving the SOL ecosystem Meme coins to big pump. PENGU's monthly rise reached 400%, BONK increased by 172%, and FARTCOIN, SPX, and others rose over 70%.
On-chain data verification: SOL 24-hour volume soared to $9 billion (+70%); Solana DEX weekly volume rose by 22%, with Meme coin trading activity becoming the core driving force.
The daily chart currently shows five major buy signals, with a technical target of $280
The SOL daily chart has rarely triggered five major technical buy signals simultaneously, forming a strong bullish resonance:
Best Entry Points and Risk Alerts Currently, half of the signals have been confirmed, and the technical indicators are strongly bullish. If the cup and handle pattern's neckline (190 USD) retraces to around 185 USD, it is considered an ideal entry point for long positions. The upward target focuses on the previous high of 280 USD, with a potential rise of over 47%.
Conclusion: Solana (SOL) is currently at a quadruple favourable information convergence point involving macro policies, capital inflows, technical patterns, and ecosystem activity. The emergence of five major buy signals suggests that a challenge to the historical high of $280 is imminent, with $277 as the measured target for the cup and handle pattern. The listing of the first SOL ETF and the implementation of the "Genius Act" provide a solid fundamental support for the upward trend, while the Meme coin sector is expected to explode with the PENGU ETF speculation, further boosting on-chain activity and market enthusiasm. Investors should focus on the effectiveness of the $190 breakout and the $185 support area; if a bounce back stabilizes, SOL may trigger a new leading bullish trend in the Layer1 track.