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Solana Explodes Out Of Downtrend: How High Can It Go?

  • Solana (SOL) has broken out of a descending parallel channel, indicating potential for a climb toward $213.
  • The breakout comes after Solana's price rose above the midline of the channel, suggesting a shift in market control from sellers to buyers.
  • Two major catalysts, the completion of a massive Solana unlock and the inclusion of Solana in the US Strategic Crypto Reserve, support the bullish outlook.
  • The $213 target is derived from the channel's height and 0.382 Fibonacci retracement level, with a retest of broken resistance expected at the $160-165 range.

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