SOL Price Back At $100, The Ongoing Recovery Eyes 25% Hike 

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With the big players like Bitcoin and Ethereum turning positive this week, the altcoins are picking up the bullish pace. Being one of the top performers, the SOL price is teasing a high momentum reversal rally to cross the $100 barrier.  

With a breakout, a retest, and a bullish pattern in the pipeline, Solana is preparing for a massive run in February. Amidst the rising anticipations and the growing volumes, the altcoin is becoming the choice of the week. 

The bullish sirens raise curiosities like, will the SOL price reach the $1000 mark? Check out our Solana price prediction to learn more about the long-term picture.

Source – TradingView

Starting with a morning star pattern at the $80 mark, close to the 38.20% Fibonacci level, the bullish trend in Solana picks up momentum. Amidst this recovery trend, the SOL price manages to conclude the short-term lower high formation. 

Breaching the short-term trendline, the Solana price trend enters a retest phase and completes it with a morning star pattern. Currently, the SOL price trades at $99.20 with an intraday growth of 1.47% and teases a trend continuation,

As the buyers are preparing to reclaim the $100 mark, the chances of a bull run are increasing in February.

Technical Indicators:

RSI Indicator: The daily RSI line sustains above the halfway line signaling a strong underlying bullish sentiment. 

Will SOL Price Rerun To $125?

With the ongoing recovery, the SOL price trend is poised for a potential substantial bull run, increasing the likelihood of surpassing the $100 mark once more. This favorable situation offers an enticing entry point for sideline traders, allowing them to capitalize on the current price level. Potentially benefit from the anticipated surge in the SOL market.

In contrast, if the crucial $80 support level fails, it could trigger a more significant correction. This scenario suggests that the market could dive rapidly and potentially reach as low as $50.

Analyst Expects $SOL To Hit $140

Michael, an analyst with 691.6K Followers on platform X, expects the SOL price to hit $140 as it reverses from $80. Amidst this recovery, the chances are supporting the bull run beyond $100.