Solana has been performing exceptionally well since the breakout it triggered during the last trading day. The trend continues to remain elevated, as the bears remain inactive or possibly want the price to maintain a strong upswing. After rebounding from the lower trend line in September, the SOL price recovered the losses it faced in the past couple of months. Now that the token has accomplished a parabolic recovery, it can be speculated that the next bullish move may lift the price beyond $30. 

As analyzed in our previous composition, a minor chance of rising beyond the upper resistance zone was quite possible. A similar spike was seen in mid-July that marked the highs at $32.33. Unfortunately, the token failed to hold, inviting the bears who dragged the price below $20. Currently, the price has formed a significant bullish pattern, and with another jump of 5% to 8%, a fresh upswing could materialize.

The SOL price is potentially trading in a massive inverse H&S pattern since the beginning of the year. The fresh bullish push has raised the price towards the neckline of the pattern, and hence a bullish weekly close could validate a massive upswing. Therefore, the SOL price is required to close the weekly trade above $28, which may further validate a massive upswing towards the next zone around $35 to $36. As the RSI is bullish, a fair chance of a continued upward trend can be expected. 

A huge jump in trading volume of over 150% was recorded in the past 24 hours, with a notable rise of over 12% in market capitalization. Hence, larger chances of a continued bullish trend appear that may lead to a bullish weekly close above $30.  

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