Solana (SOL) has recently embarked on an upward trend and is on the brink of significant price growth. Analysts believe the formation of an ascending triangle pattern on the daily chart of Solana indicates a continuation of the trend. The main resistance ahead of SOL is at $288, with next targets set in the range of $350 to $390. Some even speculate a price target of $500 for SOL. Furthermore, the formation of a descending wedge pattern on the chart and breaking its upper trendline suggest ongoing Solana growth. Initiating requests for tradable Exchange-Traded Funds (ETFs) on Solana and the appointment of a new head for the U.S. Securities and Exchange Commission (SEC) can pave the way for easier entry of large investments. This, coupled with the growth in the number of projects and applications built on the Solana network, indicates greater blockchain acceptance. With continued institutional capital inflow, reaching $200 and above for Solana in the coming weeks is plausible.
