After enduring weeks of constant selling pressure, the crypto market showed signs of life yesterday, with many assets starting to recover. Solana, one of the top performing cryptocurrencies, joined the rally, gaining more than 10% in just 24 hours. This upward movement has created renewed optimism among investors, with the hope that the market may move further up.
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Top analyst Jelle has evaluated Solana's recent price and shared detailed technical analysis on X. According to Jelle, Solana's next key obstacle is the $210 level. If the SOL can recover this zone as a backup, the path to new record highs could quickly follow. This level represents a significant resistance point, making it a pivotal area to watch in the coming days.
The recent turn of the market has brought New attention to Solanabecause its technical settings make it a leader in this stage of recovery. Investors are closely monitoring the price action and are keen to see if it can sustain the current momentum. As the broader market wakes up, Solana's next move could set the tone for its performance in the coming weeks.
Solana showing strength
Solana has shown remarkable resilience amid recent market turmoil, holding the company above the critical $180 level. Once a significant resistance, the price has now turned into strong support, showing Solana's relative strength. As the broader cryptocurrency market begins to show signs of renewed optimism, Solana looks well-positioned for a significant upside move.
Top analyst Jelle recently presented An encouraging technical analysis on XHighlights Solana's jump from key levels. According to Jelle, SOL successfully retested both its trendline and horizontal support before the sharp pullback.
These technical setups indicate that the asset is preparing for a bigger breakout. The next important target is $210 – a key resistance zone. If Solana retraces this level and consolidates above it, it will likely open the door to new record highs.
This bullish outlook is echoed by several analysts and investors who closely monitor Solana's price performance. Many believe that once SOL clears $210, its path to surpassing its previous high will be swift and decisive.
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Solana's strong fundamentals, along with its recent price performance, have made it stand out in the current market recovery. If the momentum continues to grow, Solana could become a leader in the next bull run and break his all-time record.
Technical analysis: key levels
Solana (SOL) is trading at $207, showing considerable strength after a net bounce from the 200-day EMA at $175 on December 23. This was a pivotal bounce, as the 200-day exponential moving average confirmed the bullish price structure and ensured that buyers were again acquired. After weeks of market uncertainty, a successful defense of this critical level has put Solana as one of the most promising assets for an impending breakout.
Solana is now trading above $200 and is about to test its all-time high (ATH). If the bulls can maintain their momentum and retake $230, the next move is expected to be aggressive. Analysts and traders are closely watching this level as it can act as a final resistance before SOL invests in an unknown price range.
The upside momentum is further fueled by Solana's strong fundamentals and its ability to hold key support areas amid broader market volatility. A break above $230 is likely to attract fresh capital and fuel a rally that could redefine its long-term trajectory.
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While challenges remain, especially with broad market sentiment, Solana's recent price action strongly suggests that a massive move is on the horizon, potentially taking it beyond its previous ATH in record time.
Featured image from Dall-E, chart from TradingView
