Solana (SOL) Bull Flag Signals Surge Above $260 After Robinhood Relisting

Bullish Pattern Forms on Solana Charts

On November 13, SOL rallied back to $200, but it was Robinhood’s relisting of the token that drove the price to $220 within a day. This rapid rise has triggered a bullish “flag” pattern on weekly charts, hinting at a possible rally continuation.

In technical terms, a bull flag pattern includes an initial steep price rise, followed by a brief period of consolidation. Solana’s price briefly reached $220 before settling around $217. If this bull flag holds, analysts believe the next target could be $260, potentially aiming for $320.83.

Key Indicators Support Solana’s Price Rally

Supporting this bullish outlook, the Bull Bear Power (BBP) indicator on the daily chart currently favors buyers. This indicator tracks the power struggle between buyers and sellers by comparing the price highs to a 13-day Exponential Moving Average (EMA). With buyers holding above the EMA, momentum appears positive for Solana.

Additionally, the Parabolic SAR (Stop and Reverse) indicator points to further gains. With dots below Solana’s price, the indicator suggests an ongoing uptrend. Historically, this setup has often led to double-digit increases in Solana’s value.

SOL’s Path Ahead: Potential for a Double-Digit Surge

Should this trend continue, Solana could rise to the $260 range in the coming days. If the pattern plays out as expected, the rally might even push the price closer to $320. However, any shift in the Parabolic SAR signal—placing dots above the price—could halt this rally, potentially dragging Solana’s value back to the $200 level.

With this setup, Solana’s next moves are set to attract keen attention from traders and investors alike.