Solana (SOL), the fifth-largest cryptocurrency by market capitalization, could be on the verge of a significant breakout, according to the co-founders of Glassnode, known as “Negentropic” on X (formerly Twitter).

In a Thursday tweet, the analysts highlighted SOL’s recent rebound toward $230, which unfolded within a descending triangle pattern, calling the price action “highly encouraging.”

“SOL hit the marked zone and rebounded toward $230. If it sur...