Cryptocurrency markets are on the rise again, with major altcoins showing signs of a technical rebound. FET token surged by 31%, while Solana (SOL) exhibits a similar pattern. Is SOL Heading Towards a Bullish Reversal ?
The crypto markets are back in the green this week. Many significant altcoins, including SOL, are initiating a technical rebound. Among them, the artificial intelligence-focused token Artificial Superintelligence Alliance (FET) has stood out.
It has surged by 31% over the past seven days. This movement is the result of a clear breakthrough of a key resistance zone, followed by a bullish retest confirming the positive momentum. Solana (SOL) is also showing a significant rise of +10% and currently presents a nearly identical chart pattern to FET before its surge.
This technical similarity hints at the possibility of an imminent rally for the SOL token. Fractal Analysis : FET vs Solana (SOL) Let’s have a technical look on both tokens SOL and FET : On the 4-hour chart, the FET token recently broke through a key resistance zone at $0.58, before successfully retesting it – a classic technical scenario known as a “throwback,” often interpreted as a bullish confirmation. After this retest, FET continued its upward momentum to reach $0.615, showing an additional 12% increase post-breakout.
SOL : On the Verge of a Similar Breakout ? At the same time, SOL is trading just below the technical resistance zone of $147, precisely matching the level that FET had reached before its bullish push. The 4-hour chart shows an almost mirror image structure, paving the way for a potential breakout above $147.44, followed by a bullish retest (validation) and a short-term target around $165.
Source: TradingView Understanding the Importance of the FET Fractal in the Crypto Market The concept of fractals in technical analysis refers to the repetition of certain price patterns. When two assets like FET and SOL share an identical chart pattern over the same period, it can signal a likely upcoming trend – a valuable tool in the arsenal of crypto technical analysts. In this case, FET acts as a “fractal leader” in the market, while SOL could be the “technical follower” if volumes and momentum follow suit.
To confirm the identified fractal scenario for Solana (SOL), analysts will watch for the following indicators: A solid 4-hour close above $147.44 A significant increase in trading volume Breakout confirmation with a full-bodied candle (without a pronounced wick) A retest of $147 as converted support If these conditions are met, the next technical target is around $165, bringing SOL into a consistent bullish momentum in line with previous market cycles observed in this range. More on this topic :
