Prominent Trading View analyst Master Ananda is sounding the alarm for traders to load up on Solana (SOL), suggesting that the market is preparing for a major upward move. According to Ananda, this could be the beginning of a much larger rally.
Rounded Bottom Breakout Signals Further Gains
Ananda’s technical analysis identifies a rounded bottom formation that has already fueled an 80% rise from the mid-April low. He notes that Solana’s break above the $160 resistance has transformed that level into a strong support zone.
As long as SOL remains above $160, Ananda expects a continued rally toward the Fibonacci 1.618 extension—roughly $420—representing a potential 120% gain. Even a pullback below this level, he says, would likely be a short-term shakeout, not a reversal.
Rate Cuts and Global Tensions Add Fuel
The macro backdrop could further benefit Solana, with expected U.S. interest rate cuts creating a more favorable environment for altcoins. Although altcoins remain subdued for now, partly due to rising U.S.-EU trade tensions and demand for safe havens like gold and Bitcoin, Ananda believes a pivot is near.
Once investor appetite returns to riskier assets, Solana could be one of the biggest beneficiaries.
Momentum Remains Strong on the Charts
On the technical side, Solana maintains a bullish setup. The RSI sits comfortably at 53, showing a dominance of buying activity. Meanwhile, the MACD indicator is also flashing green, with a bullish crossover forming that aligns with long-term uptrends.
Ananda also points to a larger cup-and-handle pattern dating back to 2021. If this pattern plays out, the $420 level could be only the halfway point in a long-term breakout targeting even higher levels.
Solaxy ($SOLX): Solana’s First L2 May Explode With Demand
A key project that could ride this momentum is Solaxy ($SOLX), currently in presale. As Solana’s first-ever Layer-2 scaling solution, Solaxy aims to offload transactions off-chain while settling on Solana, easing congestion and lowering gas costs.
With over $40 million already raised and just 20 days left in its presale, Solaxy could surge if Solana breaks out. The added scalability and cross-chain potential make it a standout in Solana’s ecosystem.
