Solana hit a yearly high

Solana broke out of a corrective pattern
Since the beginning of the year SOL price has been growing inside the ascending parallel channel. 
In November, the asset broke through the resistance line of the channel and accelerated the growth rate. This led to reaching a new annual maximum of $79.50 on December 16. Accordingly, the price growth since the beginning of the year amounted to 865%.

Since November, the growth of the coin was parabolic and did not follow any distinct patterns.

What the analysts are saying
Cryptocurrency trader @CryptoPoseidonn thinks the top is near. He wrote that he is already ready to sell, but would like to wait for a breakout of the 4-hour trend first.  
CryptoBusy is watching the price struggling with the $78 level for now. He suggests waiting and watching the price behavior in this area before placing any orders. "One big push is still needed to help push the price above $78.

If it consolidates above that level, $90 and then $107 will inevitably come into play.

But the market is still on hold. Patience, folks."
SOL Prediction:  

The most probable scenario within the Elliott Wave Analysis suggests that SOL is in the third wave of a five-wave upward movement. The third wave is extended and its length is 2.61 times longer than the first wave. Thus, the top may have already been reached.

This is confirmed by the daily RSI, which has formed a bearish divergence, as well as the two upper wicks (red icons) that appeared on the chart in December.

If this scenario is true, the SOL price could correct by 25% and reach the 0.382 Fibonacci retracement level at $55.60. After that, the fifth wave could take the price to a new yearly high.
Despite this bearish short-term outlook, a SOL closing above $73 would mean that the fifth wave will continue. In this case, the token could reach the next resistance at $95, which would mean a 25% rise.