The price of Solana (SOL) has reached a major milestone by breaking the $150 price level in the last 24 hours. This border has repeatedly formed strong resistance in recent days.

Now that Solana has crossed this critical threshold, crypto market analysts believe the coin could be gearing up for a continuation of the rally, with a potential target of $180.

Solana ready for a 20% price increase?

The next crucial price levels for Solana (SOL), which could potentially act as resistance, are the $156 and $162 levels.

These resistance levels were determined using Fibonacci extensions, a technical analysis tool. If Solana manages to break through both of these resistance levels, the $175 and $180 levels will become very important.

An increase to a price of $180 would represent a 20% increase over the current market value.

$150 is a crucial level

While the price of Solana (SOL) could rise significantly, it is also important for investors and traders to keep an eye on the crucial support levels, which are determined by the Fibonacci sequence.

At this point, the $150 price level serves as a key support. If Solana cannot stay above this price, a correction is likely, where the price could fall further to $138 and possibly even to $128, which represents a drop of almost 15%.

Given the rapid rise in the Solana price in recent months, the risk of a short-term correction increases if investors decide to cash in their gains.

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