The crypto market showed signs of life yesterday after weeks of continuous selling pressure, with many assets starting to recover. Solana, one of the best cryptocurrencies, joined the rally, going up more than 10% in just 24 hours. This upward movement is raising new hopes among investors, with the hope that the market will move towards a more positive trend.
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Lead analyst Jelle has weighed in on Solana's recent price action, sharing a technical analysis of X. According to Jelle, Solana's next major hurdle is the $210 level. If SOL manages to reclaim this belt as support, the path to new all-time highs could quickly follow. This level represents a major resistance point, making it a critical area to watch in the coming days.
The recent market revolution has brought new attention to Solanaas its technical position positions it as a leader in this recovery phase. Investors watch price action closely, to see if it can sustain the current trend. As the broader market wakes up, Solana's next move could set the stage for execution in the coming weeks.
Solana shows strength
Solana has shown particular resilience amid recent market turmoil, holding firm above the critical $180 level. This price point, once a great stand, has now moved to strong support, underscoring Solana's relative strength. As the broader crypto market begins to show signs of renewed optimism, Solana appears to be well-positioned for a big move up.
The lead analyst Jelle recently gave provocative technical analysis of Xhighlights Solana's kick from the top ranks. According to Jelle, SOL managed to retest both the trendline and its horizontal support before making a quick comeback.
This technical situation suggests that the fund is preparing for a bigger breakout. The next critical target is at $210 – a major resistance area. If Solana regains this level and consolidates above it, the door is likely to open to new all-time highs.
This bullish view is echoed by several analysts and investors who closely monitor Solana's price action. Many believe that once SOL clears $210, its path to surpassing the previous highs will be swift and sure.
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Solana's strong fundamentals, along with its recent price performance, have stood out in the current market recovery. If the trend continues, Solana could be the leader in the next bullish phase, breaking the all-time high.
Technical Analysis: Key Levels
Solana (SOL) is trading at $207, showing remarkable strength after a clean bounce from the 200-day EMA at $175 on December 23. This breakout was very important, as the holding of the 200-day EMA confirmed a strong price structure, ensuring that buyers recovered. control after weeks of market uncertainty. Successful defense of this critical phase has positioned Solana as one of the most promising breakout assets to come.
Now trading above $200, Solana is about to test its all-time high (ATH). If bulls can maintain momentum and regain the $230 mark, the subsequent move is expected to be aggressive. Analysts and traders are closely watching this level as it could be the last resistance before SOL starts entering an unknown price zone.
The bullish trend is further bolstered by Solana's strong fundamentals and its ability to hold key support areas amid broader market volatility. A break above $230 would likely bring fresh capital, fueling a rally that could redefine its long-term trajectory.
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While challenges remain, especially with market-wide sentiment still finding its footing, Solana's recent price action strongly suggests that a major move is on the horizon, which could take it further than the previous NEXT in a higher period.
Featured image from Dall-E, chart from TradingView
