Solana Price: Network Surge & Megaphone Pattern Signal $210 Breakthrough Target

Are you watching the Solana market? The **Solana price** is showing interesting signs, hinting at a potential significant move. Recent activity on the **Solana network** combined with a specific technical chart pattern suggests that a notable price increase could be on the horizon for SOL holders.

Decoding the Megaphone Pattern and Solana Price Potential

Analyzing the 4-hour chart reveals that **Solana price** has formed a ‘megaphone’ pattern. This technical setup typically indicates increasing volatility. The pattern’s upper resistance line currently sits near $185, closely aligning with the immediate resistance level at $180 that SOL recently tested but failed to break above.

A confirmed breakout above the $185-$180 resistance zone is key. If this occurs with sufficient volume, the pattern suggests a potential move towards its first target at $210. This target is calculated by projecting the widest part of the megaphone upward from the breakout point. Reaching $210 would represent a rally of approximately 21% from current levels.

However, it’s important to note that a megaphone pattern can also signal potential downside if resistance holds. A failure to break above $180 could see **SOL price** pull back towards support levels, such as the 100-day Exponential Moving Average (EMA) near $161 or the pattern’s lower support line around $150. Volume confirmation on any breakout is crucial to validate the move and avoid false signals.

Solana Network Activity: A Foundation for Growth

Beyond the charts, on-chain data provides a bullish backdrop for the potential **crypto price target**. The **Solana network** is experiencing a notable revival in investor interest. Glassnode data shows a 4% to 5% increase in 30-day capital inflows, matching growth seen in other major altcoins like XRP.

This trend reversal, following months of outflows, indicates renewed demand within the Solana ecosystem. The network’s realized cap, which tracks the value at which coins last moved, increased by $4 billion to $78.5 billion on May 14. This growth in realized cap further underscores the increasing momentum and value flowing into the **Solana network**.

Transaction Volume Highlights Solana’s Strength

High transaction volume is another strong indicator for the **Solana network**. A recent report highlighted Solana as the second-ranked blockchain by total transactions processed over the past week. With an impressive 731 million transactions, Solana significantly outperformed many other chains, including Base (77.1 million transactions).

This sustained high level of activity demonstrates the network’s efficiency and continued popularity among users and developers. The combination of growing capital inflows, increasing realized cap, and massive transaction volume provides a solid fundamental basis supporting the technical outlook for the **SOL price**.

Potential $210 Crypto Price Target: What to Watch

The confluence of the megaphone pattern’s target and the robust activity on the **Solana network** points towards a potential move to the $210 **crypto price target**. Breaking the $180-$185 resistance zone is the immediate hurdle. Sustained volume during this breakout will be critical confirmation.

A move above $200 would also clear a significant psychological level, potentially attracting further buying pressure. While the technical pattern and on-chain data are encouraging, market conditions can change rapidly. Investors should conduct their own research and consider the risks involved in cryptocurrency trading.

Summary: Solana’s Bullish Indicators Align

In conclusion, the recent surge in **Solana network** activity, evidenced by increasing capital inflows, realized cap growth, and high transaction volume, paints a picture of renewed strength for the ecosystem. Coupled with the technical setup of a megaphone pattern on the price chart, there are clear indicators pointing towards a potential rally for **SOL price**. The $210 **crypto price target** derived from this pattern is a key level to watch, contingent on a successful breakout above immediate resistance and sustained market momentum.