Solana (SOL) is garnering attention as analysts predict a potential surge of 140% from current levels, targeting a price of $420 or higher by late 2025. According to TradingView crypto analyst Master Ananda, this rally could drive the token to new all-time highs.
The analysis, shared on May 23, indicates Solana has completed a rounded bottom pattern, suggesting a bullish reversal. Master Ananda forecasts SOL is preparing for a parabolic surge to $420, emphasizing this isn't the ultimate target.
The rounded bottom pattern has been forming since early 2025, with Solana's price holding above the $160 support line, considered the pattern's baseline. Despite facing resistance on May 23, the price action remains resilient. Master Ananda asserts there is "absolutely no bearish action" on the current chart, even after Solana's low on May 19. As long as the $160 level holds, the trend may accelerate towards higher Fibonacci resistance levels, potentially reaching $419.78, a 140% increase from the current price around $178.
Master Ananda suggests that even if Solana drops below $160, it would likely signal a market shakeout rather than a trend reversal, reinforcing Solana's confirmed bullish bias for long-term growth. He also noted that macroeconomic factors, like expected interest rate cuts by the US Federal Reserve, could boost the crypto market, making Solana's current price levels a significant buy zone.
Master Ananda advises investors to "be fully invested and buy like it's the end of the world" before $300 is no longer seen as expensive, highlighting Solana's substantial potential as the next bull cycle gains momentum.
This article is based on analysis from TradingView.