Solana (SOL) has seen an impressive rise in recent days and is currently trading at $240.31. After a period of consolidation around $225, the coin has broken through this key resistance, paving the way for a further advance towards $250.
The recent price action is drawing a lot of attention from traders and investors, who are curious to see if Solana can maintain this momentum.
Breakthrough above $225 gives confidence
Top analyst and macro investor Carl Runefelt previously emphasized the importance of the $225 limit. His technical analysis predicted that a break above this level could propel Solana to the next target at $246 and possibly $250. With this breakout confirmed, confidence in Solana’s bullish trend is growing, especially if the coin manages to continue consolidating above $225.
The broader crypto market is adding additional momentum, with Bitcoin again moving towards its all-time high. Historically, Bitcoin’s moves like this have often led to broader market rallies, which could give Solana an extra push towards new highs.
Next goals and resistance levels
With Solana now above $240, analysts are targeting the next key resistances. A rise to $246 seems within reach, while $250 is seen as a crucial psychological level. Maintaining the current price point and further consolidation above the $225 zone could further strengthen investor confidence, leading to increased demand and continued price appreciation.
The role of market trends
Solana’s current bullish run is supported by both strong on-chain factors and broader market trends. If Bitcoin continues its upward movement, it could help Solana maintain its momentum. At the same time, it remains uncertain whether the crypto market can withstand the macroeconomic headwinds, which could impact Solana’s further growth.
The coming days will be crucial to see if Solana can maintain these levels and post new gains. A strong continuation of this trend could position Solana as one of the leading altcoins in this bullish cycle.
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Source: https://newsbit.nl/solana-richt-zich-op-250-na-doorbraak-van-cruciale-weerstand/
