Pseudonymous TradingView analyst Master Ananda has issued a strong buy signal for Solana (SOL), urging investors to “buy like it’s the end of the world” as a combination of technical patterns and macroeconomic catalysts align to suggest a major breakout.
$420 Target May Be Just a Stepping Stone
Ananda believes Solana is on the verge of a powerful parabolic rally, forecasting that $420 could serve as a midpoint rather than a peak. His bullish thesis is grounded in a classic rounded bottom breakout pattern, which he claims has already launched an 80% price recovery since mid-April.
Solana recently cleared the $160 resistance level, which has now flipped into solid support. As long as this level holds, Ananda sees the path open to the next Fibonacci extension—specifically the 1.618 level near $420, implying another 120% gain.
Even if SOL briefly dips below $160, the analyst suggests it would likely be a short-lived bear trap rather than a trend reversal.
Macro Factors Favor Altcoin Momentum
Ananda also points to larger economic trends as potential tailwinds. With the U.S. Federal Reserve signaling rate cuts in the near future, risk assets like altcoins could see renewed investor interest. Meanwhile, geopolitical tensions—particularly rising tariffs between the U.S. and EU—have steered capital into Bitcoin and gold, temporarily slowing altcoin momentum.
Still, once that tide turns, Ananda argues Solana is well-positioned to benefit.
Technical Indicators Support Extended Upside
Technically, Solana appears to be consolidating in a bullish range between $160 and $190. The Relative Strength Index (RSI) currently sits at 53, signaling that buyers are maintaining control. Moreover, a bullish MACD crossover—known as a golden cross—suggests momentum may continue building on weekly timeframes.
Ananda notes that a completed rounded bottom pattern could lead SOL to $300. From there, the move to $420 would represent a midpoint within a much larger cup-and-handle formation that originated in late 2021, potentially forecasting a 160% long-term breakout.
Solaxy ($SOLX) Could Ride the Next Solana Wave
One potential big winner from Solana’s next leg up is Solaxy ($SOLX), a new ICO currently in presale. Positioned as Solana’s first Layer-2 scaling solution, Solaxy aims to solve the network’s long-standing congestion and high-fee challenges by enabling off-chain transaction processing with finality on Solana.
This approach boosts speed, reduces costs, and unlocks cross-chain functionality—opening new doors for DeFi and Web3 use cases.
With over $40 million raised and just 20 days left in the presale, Solaxy is drawing significant investor attention. If Solana breaks out as expected, Solaxy could be a top-tier beneficiary of the ecosystem’s renewed momentum.
