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Solana (SOL) has experienced a strong bullish trend over the past 12 hours, with its price surging to around $170, marking a new two-month high. This rally has been driven by both technical patterns and derivative traders increasing their long positions. The formation of an inverse head-and-shoulders pattern has ignited bullish sentiment, signaling a potential trend reversal that could push SOL toward the $190 to $250 range by the end of October​ (blockonomi)(Crypto2Community).

Current technical indicators show strong support around the $150 level, while $160 is acting as the key psychological barrier. If SOL manages to break through the $180 resistance, further gains are likely​ (thecurrencyanalytics) (fxempire). The Relative Strength Index (RSI) hovers near 64.89, suggesting that while SOL isn’t yet in overbought territory, caution is advised as it approaches higher resistance​ (Crypto2Community).

Overall, positive market sentiment, boosted by favorable macroeconomic conditions and continued staking activity, supports a bullish outlook for Solana, with further upside potential if key resistance levels are broken.



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