Solana (SOL) Mimics 2021 Bull Run Pattern, Will SOL Make it to the $1000 Mark?

As the cryptocurrency markets approach the close of the month and the conclusion of the first half of the year, certain tokens, particularly Solana (SOL), are exhibiting remarkable resilience.

As the cryptocurrency markets draw near the conclusion of the month and the first half of the year, some tokens, such as Solana (SOL), are displaying remarkable resilience.

The SOL token has managed to stay above the bullish range, suggesting that the price could soon experience a significant buying volume, potentially reigniting a strong uptrend in the near future.

While Solana is likely to close the weekly trade positively, the token is expected to remain consolidated for a longer duration.

Current Solana Trade Setup Hints At Bullish Accumulation

The present trade setup indicates bullish accumulation, as the price has been trading within a narrow range since it crossed and found support at the $144 level. With SOL ranging high since the day’s trade began, the token is set to close the monthly trade on a bullish note, having already confirmed the bottoms.

Interestingly, Solana is now consolidating and forming a pattern that resembles a previous formation that led to a massive nearly 1,000% rise, propelling the token to reach its all-time high (ATH) of $260.

A closer look at Solana’s historical chart shows that the token is mirroring a price action similar to the one it experienced just before the 2021 bull run began. The accumulation pattern is remarkably similar, and the Relative Strength Index (RSI) is also ranging in an identical fashion.

Furthermore, the trading volume has been slashed in a manner that closely resembles the previous pattern, emitting strong bullish signals for the cryptocurrency. The burning question now is whether Solana will, in fact, make it to the $1,000 mark.