Solana flashes rare double buy signal: $250 in sight

As bulls and bears continue fighting it over for dominance in the cryptocurrency market, Solana (SOL) has just lit up traders’ dashboards with a rare double buy signal from the TD Sequential indicator, fueling speculation that a push toward $250 could be next.

Specifically, Solana’s daily chart has printed two back-to-back buy signals from TD Sequential, an indicator often pointing at trend reversals, according to the observations by popular crypto trading analyst Ali Martinez shared in an X post on September 24.

Defend $210, aim for $250

Indeed, the setup suggests that as long as Solana holds above $210 support, the odds of a bullish continuation are high. If the token defends this level, the next major resistance sits around $250, which could act as both a magnet for price action and a test of bullish conviction.

At press time, Solana was changing hands at the price of $212.78, recording a decline of 3.03% in the last 24 hours and an even more pronounced dip of 9.25% across the previous seven days, as it’s still holding a 7.7% advance on its monthly chart, per the latest data.

Still, the market isn’t without risk. A failure to hold $210 could see SOL revisit $200 or even $190, wiping out short-term bullish momentum. But for now, momentum indicators favor the bulls, with traders eyeing $250 as the next big milestone, encouraged by the positive developments like the National Bank of Kazakhstan launching its first tenge-backed KZTE stablecoin on Solana.

Earlier, Martinez suggested that, after breaking out of an ascending triangle, the token was not done declining and could drop further down to $210 before it could make another upward move, and that the ensuing bounce could send it all the way up to a new all-time high (ATH) of $320.