Solana
Solana Breakout: Crypto Analysts Confirm SOL Ready to Cross $200
Solana had already hit $200 earlier in the year, but it was only for a brief period before dropping back down to $150. At this point, Solana indicators are starting to turn bullish, prompting crypto analysts to predict a resurgence above $200 for the altcoin.
Solana shows growth over the D1 period
Crypto analyst Maximilian FX has predicted that Solana price could be about to experience a resurgence. The analyst points to SOL’s upward growth over the D1 period as one of the reasons why the altcoin is poised for a recovery.
Maximilian FX explains that the crypto market has also reversed from its uptrend. This happened earlier in the week and the market started to rally again, pushing the market higher. Bitcoin Price above $63,000 for a brief period.
Given the bullish momentum of the market, the crypto analyst believes that the SOL Price will recover above $200 again. However, it shows a retracement at $143, which has since been reached in the early hours of Wednesday.
From here, the analyst expects SOL price to continue to rise. “Based on the current pattern and trend, the most likely target for a breakout of resistance is D1 at 172.33. In this scenario, we expect further growth towards the target of 200.00,” Maximilian FX said.
SOL establishes support above $125
Another crypto analyst, Orson Fawley, has predicted that Solana price is about to surpass the $200 level again. The analyst points out that Solana has seen support develop around $12.5.80, and this level continues to serve it well.
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For now, the price is moving towards the resistance at $157, which has now become the point to beat. Fawley explains that if the altcoin manages to break through this level, then $180 is the next step. “On the other hand, SOLUSDT could still retest support before the uptrend is firmly established,” the crypto analyst said.
Currently, the Solana Price The trend is at $146, with a loss of 6.39% in the last 24 hours. However, on the 7-day chart, the altcoin is performing much better, with a gain of 20.23%.
SOL price at $145 | Source: SOLUSDT on Tradingview.com
Featured image from ByteTree, chart from Tradingview.com