Five major buy signals for SOL now! Technical pattern resonance indicates a push towards historical highs, and Meme coins collectively explode with the tailwind of ETFs.

Solana (SOL) shows a strong bullish resonance in both technical and fundamental aspects. The daily chart triggers five major buy signals (golden cross pattern, breakout from the descending channel, confirmation of the cup and handle pattern, etc.), with the target aimed at the historical high of 280 USD. Favorable macro information adds to this: the U.S. promotes the application of encryption payment through the "Genius Act", and the first Solana ETF has been approved for launch. On-chain data verifies the rise: SOL 24-hour volume has seen a big pump of 70% to 9 billion USD, and the DEX weekly volume has risen by 22%. The Solana ecosystem Meme coins (PENGU, BONK, SPX, etc.) soar collectively due to ETF expectations, with PENGU rising 400% this month.

Macroeconomic tailwinds support the launch of SOL ETF and the passage of the Genius Act

Solana (SOL) recent strong performance is driven by dual macro favourable information:

1. First Solana ETF Listed: The US market welcomes the first SOL spot ETF, providing a compliant entry channel for institutional funds.
2. The signing of the "Genius Act" takes effect: This bill marks the beginning of the explosive growth period for cryptocurrency payment applications, with hundreds of decentralized payment applications expected to emerge.
3. Clarity Act Expected to Pass: If the first comprehensive encryption regulatory framework in the United States is implemented, it will further ignite institutional demand.

Meme coins borrow ETF expectations to collectively surge, on-chain volume skyrockets

The popularity of the SOL ecosystem is spreading to the Meme coin sector:

• PENGU ETF Application Catalyst: Canary Capital submitted the Pudgy Penguins (PENGU) ETF application, driving the SOL ecosystem Meme coins to big pump. PENGU's monthly rise reached 400%, BONK increased by 172%, and FARTCOIN, SPX, and others rose over 70%.

• On-chain data verification: SOL 24-hour volume soared to $9 billion (+70%); Solana DEX weekly volume rose by 22%, with Meme coin trading activity becoming the core driving force.

  

The daily chart currently shows five major buy signals, with a technical target of $280

The SOL daily chart has rarely triggered five major technical buy signals simultaneously, forming a strong bullish resonance:

1. Golden Cross Confirmation: The 9-day and 21-day Exponential Moving Averages (EMA) crossing above the 200-day EMA indicates a potential explosive market in the next 1-3 months.
2. Effective breakout from the descending channel: SOL successfully broke through the descending trend channel formed at 190 dollars since the end of May, with the breakout accompanied by significant volume and validated by the EMA golden cross on 9/21.
3. Cup and Handle Pattern Completed: Currently breaking through 190 dollars confirms the "cup and handle pattern" that has lasted for several months. The measured rise target is 46% of the cup height, corresponding to a medium-term target price of 277 dollars.
4. Key Resistance Level Conquered: The resistance level of $180, which has continuously suppressed the price for 4 months, has been effectively broken through, and this position has turned from resistance to support. A pullback may trigger short covering buy orders.
5. Bullish Moving Average Arrangement: The short-term EMA cluster crosses above the long-term EMA, forming a standard bullish arrangement pattern.

Best Entry Points and Risk Alerts Currently, half of the signals have been confirmed, and the technical indicators are strongly bullish. If the cup and handle pattern's neckline (190 USD) retraces to around 185 USD, it is considered an ideal entry point for long positions. The upward target focuses on the previous high of 280 USD, with a potential rise of over 47%.

Conclusion: Solana (SOL) is currently at a quadruple favourable information convergence point involving macro policies, capital inflows, technical patterns, and ecosystem activity. The emergence of five major buy signals suggests that a challenge to the historical high of $280 is imminent, with $277 as the measured target for the cup and handle pattern. The listing of the first SOL ETF and the implementation of the "Genius Act" provide a solid fundamental support for the upward trend, while the Meme coin sector is expected to explode with the PENGU ETF speculation, further boosting on-chain activity and market enthusiasm. Investors should focus on the effectiveness of the $190 breakout and the $185 support area; if a bounce back stabilizes, SOL may trigger a new leading bullish trend in the Layer1 track.