Solana “very close to triggering” a key buy signal, analyst says

Solana (SOL) is showing signs of a potential bullish flip, according to analyst Julien Bittel. Despite a recent downturn, SOL has been hovering near the 50-line on the historical volatility chart, which has previously triggered significant price increases. Bittel, head of macro research at Global Macro Investor, noted that when SOL crossed below the 50 mark in the past, it resulted in substantial gains over the following months. This pattern has been observed in various instances, including after FTX’s implosion in December 2022, when SOL price rose over 109%, and in September last year, when SOL experienced a parabolic rise of 521%. These historical movements suggest that SOL could see another significant increase if the vol buy signal is triggered. Currently priced at around $137, SOL has experienced a remarkable surge of over 780% in the past year.