</p> <p>After falling below the $121 price mark last week, the Solana has<br /> shown a strong rebound. The SOL price is up 19% from the local low.<br /> But the current setup of the Solana price suggests the potential<br /> for an even stronger upward breakout, similar to that of summer<br /> 2021, according to popular crypto analyst Daan de Rover, better<br /> known as Crypto Rover. From the end of July 2021 to the beginning<br /> of November 2021, SOL rallied by more than 1,100%. The chart shared<br /> by Rover displays Solana’s price action on a weekly timeframe,<br /> showcasing the formation of a descending triangle pattern similar<br /> to 2021. A descending triangle in this setting can be considered a<br /> continuation pattern, often leading to a breakout to the upside,<br /> especially following a prior uptrend. Currently, SOL is trading<br /> around $141. The base of the triangle, acting as a support zone, is<br /> between approximately $120 and $130. Meanwhile, the descending<br /> upper trendline currently caps the price. Related Reading: Bonk Inu<br /> (BONK) Skyrockets 10%, Dethroning WIF As Solana’s Largest Meme Coin<br /> If the Solana price breaks above this descending trendline, Rover<br /> predicts that Solana could repeat history and explode beyond $800.<br /> “SOL will go parabolic soon,” Rover asserted via X. However,<br /> investors need to monitor the $120 support level closely. A<br /> sustained move below this could invalidate the bullish scenario,<br /> whereas a strong upward push through the triangle’s upper boundary<br /> could set the stage for the anticipated rally. Potential Catalyst:<br /> Solana 2.0 Makes Major Progress A potential catalyst for the<br /> breakout comes from the Jump Crypto team. The Solana network is<br /> about to get a major infrastructure update with the new Firedancer<br /> client which is currently being developed. @CantelopePeel, an<br /> engineer at Jump Crypto, shared via X today, “Full Firedancer<br /> client built its first accepted block on Solana testnet.” Full<br /> Firedancer client built its first accepted block on Solana testnet.<br /> pic.twitter.com/T7FgkbHT8N — CANTELOPEPEEL (@CantelopePeel) July<br /> 10, 2024 He added, “Of course what you are not seeing here is that<br /> Firedancer built another 3 blocks after this, got skipped, then<br /> detected that it had mismatched against the rest of the cluster,<br /> and then summarily shutdown (gracefully, of course).” Related<br /> Reading: Solana Mirroring 2021 Bullish Pattern, Crypto Analyst<br /> Reveals The transparency in detailing both successes and hurdles<br /> reflects the ongoing complexity to scale the technology. “Fixing<br /> that is a tomorrow problem! Still a ton more to do, but hey at<br /> least you can see it on the blockchain now!” he added. This<br /> introduction of the Firedancer client to the Solana ecosystem is<br /> probably the biggest technical update thus far. Helius Labs CEO<br /> Mert Mumtaz expressed his enthusiasm for the progress via X,<br /> noting, “Firedancer has been achieved internally. No one is ready<br /> for this. Accelerate.” His remarks underscore the disruptive<br /> potential of the new client. He further elaborated on the<br /> significance of this development: “Firedancer is the 2nd Solana<br /> client (the software that nodes run) — and arguably one of the most<br /> performant pieces of open source software ever created. Solana 2.0<br /> if you will.” On Monday, Jump Crypto announced a new bug bounty<br /> initiative targeting Firedancer v0.1, nicknamed Frankendancer. As<br /> reported by Bitcoinist, this security initiative invites developers<br /> and ethical hackers to probe the client for vulnerabilities. The<br /> initiative comes with a substantial $1 million prize pool,<br /> facilitated through the cybersecurity platform Immunefi. At press<br /> time, SOL traded at $142.82. Featured image from Shutterstock,<br /> chart from TradingView.com</p> <div style="margin-top: 10px; padding-top: 10px; border-top: 2px solid lightgrey;"> <div style="width: 320px; text-align: center; display: inline-table;"> Bitcoin (COIN:BTCUSD)<br /> Gráfico Histórico do Ativo<br />De Jun 2024 até Jul 2024</p> <p><img decoding="async" data-symbol="COIN%5EBTCUSD" data-period="1" data-type="15" border="0" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20280%20175'%3E%3C/svg%3E" width="280" height="175" title="Click aqui para mais gráficos Bitcoin." alt="Click aqui para mais gráficos Bitcoin." itemprop="image" data-lazy-src="http://www.bing.com/p.php?pid=staticchart&s=COIN%5EBTCUSD&p=1&t=15&width=280&height=175"/><noscript><img decoding="async" data-symbol="COIN%5EBTCUSD" data-period="1" data-type="15" border="0" src="http://www.bing.com/p.php?pid=staticchart&s=COIN%5EBTCUSD&p=1&t=15&width=280&height=175" width="280" height="175" title="Click aqui para mais gráficos Bitcoin." alt="Click aqui para mais gráficos Bitcoin." itemprop="image"/></noscript></p></div> <div style="width: 320px; text-align: center; display: inline-table;"> Bitcoin (COIN:BTCUSD)<br /> Gráfico Histórico do Ativo<br />De Jul 2023 até Jul 2024</p> <p><img decoding="async" data-symbol="COIN%5EBTCUSD" data-period="5" data-type="15" border="0" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20280%20175'%3E%3C/svg%3E" width="280" height="175" title="Click aqui para mais gráficos Bitcoin." alt="Click aqui para mais gráficos Bitcoin." itemprop="image" data-lazy-src="http://www.bing.com/p.php?pid=staticchart&s=COIN%5EBTCUSD&p=5&t=15&width=280&height=175"/><noscript><img decoding="async" data-symbol="COIN%5EBTCUSD" data-period="5" data-type="15" border="0" src="http://www.bing.com/p.php?pid=staticchart&s=COIN%5EBTCUSD&p=5&t=15&width=280&height=175" width="280" height="175" title="Click aqui para mais gráficos Bitcoin." alt="Click aqui para mais gráficos Bitcoin." itemprop="image"/></noscript></p></div> </p></div> </p></div> </div> <p><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p> <script> function pinIt() { var e = document.createElement('script'); e.setAttribute('type','text/javascript'); e.setAttribute('charset','UTF-8'); e.setAttribute('src','https://assets.pinterest.com/js/pinmarklet.js?r='+Math.random()*99999999); document.body.appendChild(e); } </script> <div class="post-share"> <div class="post-share-icons cf"> <a href="https://www.facebook.com/sharer.php?u=https://solanacrypto.news/2024/07/10/solana-goes-parabolic-soon-as-firedancer-draws-closer/" class="link facebook" target="_blank" > <i class="fa fa-facebook"></i></a> <a href="http://twitter.com/share?url=https://solanacrypto.news/2024/07/10/solana-goes-parabolic-soon-as-firedancer-draws-closer/&text=Solana%20Goes%20%E2%80%98Parabolic%20Soon%E2%80%99%20As%20Firedancer%20Draws%20Closer" class="link twitter" target="_blank"> <i class="fa fa-twitter"></i></a> <a href="mailto:?subject=Solana%20Goes%20‘Parabolic%20Soon’%20As%20Firedancer%20Draws%20Closer&body=https://solanacrypto.news/2024/07/10/solana-goes-parabolic-soon-as-firedancer-draws-closer/" class="link email" target="_blank" > <i class="fa fa-envelope-o"></i></a> <a href="https://www.linkedin.com/sharing/share-offsite/?url=https://solanacrypto.news/2024/07/10/solana-goes-parabolic-soon-as-firedancer-draws-closer/&title=Solana%20Goes%20%E2%80%98Parabolic%20Soon%E2%80%99%20As%20Firedancer%20Draws%20Closer" class="link linkedin" target="_blank" > <i class="fa fa-linkedin"></i></a> <a href="https://telegram.me/share/url?url=https://solanacrypto.news/2024/07/10/solana-goes-parabolic-soon-as-firedancer-draws-closer/&text&title=Solana%20Goes%20%E2%80%98Parabolic%20Soon%E2%80%99%20As%20Firedancer%20Draws%20Closer" class="link telegram" target="_blank" > <i class="fa fa-telegram"></i></a> <a href="javascript:pinIt();" class="link pinterest"><i class="fa fa-pinterest"></i></a> </div> </div> <div class="clearfix mb-3"></div> <nav class="navigation post-navigation" aria-label="Posts"> <h2 class="screen-reader-text">Post navigation</h2> <div class="nav-links"><div class="nav-previous"><a href="https://solanacrypto.news/2024/07/10/ronaldinho-shills-solana-based-meme-coin-on-instagram/" rel="prev">Ronaldinho shills Solana-based meme coin on Instagram <div class="fa fa-angle-double-right"></div><span></span></a></div><div class="nav-next"><a href="https://solanacrypto.news/2024/07/11/is-it-too-late-to-buy-spike-spike-price-surges-44-and-this-might-be-the-next-crypto-to-explode/" rel="next"><div class="fa fa-angle-double-left"></div><span></span> Is It Too Late To Buy SPIKE? 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