{"id":356058,"date":"2021-10-21T18:25:33","date_gmt":"2021-10-21T15:25:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-gains-over-26-in-two-days-250-sol-price-target-next\/"},"modified":"2021-10-21T18:25:33","modified_gmt":"2021-10-21T15:25:33","slug":"solana-gains-over-26-in-two-days-250-sol-price-target-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-gains-over-26-in-two-days-250-sol-price-target-next\/","title":{"rendered":"# Solana gains over 26% in two days \u2014 $250 SOL price target next?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37b1e25494c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37b1e25494c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-gains-over-26-in-two-days-250-sol-price-target-next\/#Capital_rotation_in_play\" >Capital rotation in play?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-gains-over-26-in-two-days-250-sol-price-target-next\/#Bullish_pennant_triggered\" >Bullish pennant triggered<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Solana gains over 26% in two days \u2014 $250 SOL price target next? <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Solana\u2019s SOL coin rallied higher on Oct. 21 as traders shifted focus from Bitcoin (BTC) to the most promising altcoins.<\/p>\n<p>Notably, the price of SOL increased by more than 11% to over $196 a token, the highest level since Sept. 11. Combined with the gains recorded in the previous 36 hours, SOL was up by as much as 26%.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/5ac31320-a4a0-4954-88d3-9a11b9b5627a.png\"><figcaption style=\"text-align: center;\"><em>SOL\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Capital_rotation_in_play\"><\/span>Capital rotation in play?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A new Bitcoin all-time high price on Oct. 20 triggered\u00a0price rallies across the altcoin market\u00a0as well.<\/p>\n<p>For instance, Ethereum\u2019s native Ether (ETH) token\u00a0posted better intraday profits on Oct. 20, closing 7.32% higher around $4,170. On Oct. 21, the second-largest cryptocurrency rallied further to $4,374, just $10 shy of its record high at $4,384 on Coinbase.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/ba3d9b80-385b-48f5-855e-55fe5ace73eb.png\"><\/figure>\n<p>Conversely, Bitcoin corrected by more than 3.5% to below $65,000. As a result, the ETH\/BTC exchange surged by more than 5% to reach an intraday high of 0.06289 BTC.<\/p>\n<p>Similarly, SOL\u2019s performance against the U.S. dollar over the last two days came out better than Bitcoin. That prompted SOL\/BTC to climb by more than 8% on Oct. 21 to hit 0.0026772 BTC, showing that traders rotated capital out of the Bitcoin market to enter the Solana market.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/82fe51c9-792b-4cac-b66f-81abd770a18f.png\"><figcaption style=\"text-align: center;\"><em>SOL\/BTC daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bullish_pennant_triggered\"><\/span>Bullish pennant triggered<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Solana\u2019s latest price rally also <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared as a bullish breakout out of its multi-month consolidation channel.<\/p>\n<p>SOL started consolidating sideways inside a triangle-like trading range after rallying by more than 200% in the August\u2013September period. As a result, the formation of more than two higher lows and lower highs, coupled with a declining trade volume, raised the prospect of the channel being a pennant.<\/p>\n<p><strong><em>Related: Solana chart \u2018bull flag\u2019 eyes $250 despite SOL price down 40% since last week<\/em><\/strong><\/p>\n<p>Since a pennant is typically a trend continuation indicator, their formation on the SOL chart after a massive price rally raised its prospects of sending SOL prices higher. Thus, the breakout from Oct. 20 now eyes an extended run-up, with its target sitting at a length equal to the size of the previous uptrend.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/11aef2d2-8d82-4532-9db4-6745792caba2.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>SOL\/USD daily price chart featuring a bullish pennant. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>In other words, the price target for SOL could be as high as $250 before the end of the month. However, a retest of the pennant\u2019s upper trendline as support would risk invalidating the bullish setup.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/solana-gains-over-26-in-two-days-250-sol-price-target-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Solana gains over 26% in two days \u2014 $250 SOL price target next? &#8221; Solana\u2019s SOL coin rallied higher on Oct. 21 as traders shifted focus from Bitcoin (BTC) to the most promising altcoins. Notably, the price of SOL increased by more than 11% to over $196 a token, the highest level since Sept&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":356059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNGZjNjU4YTYtNjMyMS00NjE1LTk2NTMtZjViYWY1OWY3Mzg5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,79806,74937,74982,82402,74938,74939,75150,92498,78261,73785,70360],"class_list":["post-356058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-analysis","tag-bitcoin-price","tag-btc-markets","tag-ether-price","tag-ethereum-price","tag-market-analysis","tag-market-update","tag-solana","tag-tech-analysis","tag-markets","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/356058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=356058"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/356058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/356059"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=356058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=356058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=356058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}