Catenaa, Friday, April 25, 2025-Solana (SOL) is showing signs of a potential breakout to new all-time highs as a key chart pattern begins to take shape, according to crypto analyst Captain Faibik.
Despite facing resistance at the $141 mark, Solana’s recent price correction may be coming to an end, paving the way for an upward movement.
Faibik points to the emergence of an Expanding Triangle formation on the SOL price chart, a pattern typically indicating a potential upswing after a period of consolidation.
This formation suggests that Solana could rally toward the $300 mark in the medium term. The asset is at a critical juncture where market dynamics between buyers and sellers will determine its next trajectory.
On-chain activity also supports the bullish outlook. There has been a noticeable uptick in large investor activity, with wallet addresses holding more than 10,000 SOL increasing by 1.53% in less than two weeks, signaling strong investor conviction. Additionally, Solana’s network growth is contributing to its momentum, with increasing staking participation.
Solana has outperformed Ethereum in terms of staking ratio, with SOL’s staking ratio growing by over 68%, compared to Ethereum’s 28%.
This significant rise in staking reflects growing confidence in Solana’s future, solidifying its position as a leader in the blockchain ecosystem. The value of Solana’s staked assets now totals $58 billion, a dramatic increase from $7.5 billion.
