Why Solana (SOL) is set to rally 60%

Although Solana (SOL) is facing increased selling pressure in line with broader cryptocurrency market sentiment, technical indicators suggest the asset may be preparing for a notable rally. Specifically, prominent online analyst TradingShot has observed that Solana has been trading within a rising channel since June, which forms part of a broader Fibonacci channel that began in early April. In a TradingView post on September 22, the analyst noted that after gaining more than 63% in its last bullish leg, SOL is now undergoing a pullback, mirroring a previous move where prices retraced to the 50-day moving average (MA) and the 0.5 Fibonacci retracement level before resuming their upward trajectory source: https://finbold.com/why-solana-sol-is-set-to-rally-60/