Check out the latest information in Spanish.
After hitting a new all-time high at $264, Solana (SOL) is facing a 23% retrace, testing the resilience of its bullish momentum. Despite this pullback, SOL’s price structure remains strong, with the token firmly above key demand zones. This solid phase indicates that the market is poised for another possible breakout as the bullish trend continues.
Related books
Renowned crypto analyst and investor Jere recently shared his technical analysis on X and expressed optimism about Solana’s future price trajectory. According to Jere, the retrace is a healthy correction that can help SOL develop the strength it needs for its next significant rally. He predicts Solana will reach new highs before Christmas, setting the stage for an exciting year-end.
With Solana maintaining its position above key levels and investor interest remaining strong, all eyes are on the $264 price tag as bulls prepare to push the token towards price discovery once again. gathered at Mark. The next few weeks will be pivotal, with SOL potentially regaining momentum and delivering significant gains. If the bullish predictions come true, Solana could solidify its position as one of the standout performers in the cryptocurrency market this cycle.
Solana price movement shows strength
Solana (SOL) continues to show bullish momentum, holding firm above the key support level of $210 that previously served as resistance. This price move indicates a healthy retrace and could reset the market before another possible rally. Solana's ability to sustain these levels reinforces our bullish view and suggests it is poised for further upside.
Top crypto analyst Jere recently shared his insights on X and expressed confidence in Solana’s price trajectory. Jelle's technical analysis predicts SOL to reach new heights before Christmas, highlighting a short-term price target of $300. He emphasized that the current consolidation phase is a positive sign as it allows for accumulation and builds the momentum needed for a breakout.
Solana recovers from major demand | Source: Jelle on X
However, despite the optimism, if SOL fails to reach a new all-time high (ATH), the possibility of a prolonged downturn looms. This scenario could result in a sideways price movement for SOL and a temporary stagnation in price movements as traders wait for a clearer market direction. Such a correction is not necessarily bearish, but it could delay the anticipated rally.
Related books
For Solana to reach Jere’s $300 target, the bulls will need to regain and maintain levels above the ATH, demonstrating strength and new buyer interest. If successful, Solana is poised to re-enter price discovery and secure its position as the best-performing crypto asset in the current market cycle.
Testing SOL liquidity levels
Solana (SOL) is currently trading at $232 and is showing resilience after successfully sustaining a key demand level at $210. This key support will prove essential in maintaining the bullish momentum, allowing the price to recover and consolidate above $222. Being able to stay above this mark has boosted investor confidence and now the focus has shifted to higher goals.
SOL is testing liquidity around $230 | Source: SOLUSDT chart on TradingView
The next major resistance level for SOL is $246. Breaking through this level would not only signify a bullish breakout, but would also position SOL to challenge and exceed the all-time high (ATH) of $264. If confirmed above $246, fresh momentum could emerge, pushing Solana into uncharted territory and reigniting market excitement.
Related books
However, the bullish scenario depends on whether SOL can maintain its upward trajectory. There is a risk of losing momentum if the price struggles to break out of the $246 level in the coming weeks. This could lead to a broader correction, with traders once again eyeing the $210 demand zone as a key area to watch.
Featured image from Dall-E, chart from TradingView
