Check out the latest information in Spanish.
Solana (SOL) is holding steady above a key demand level near $210, a key area that could trigger a massive bull run. After reaching an all-time high (ATH) on November 22nd, Solana has experienced a 23% retracement, testing investor confidence. However, analysts remain optimistic, with many expecting significant gains in the coming weeks.
Related books
Renowned analyst Jere recently shared technical analysis highlighting Solana's strong potential. According to Jere, SOL's monthly chart is poised for an “absolute monster run,” indicating that the current downturn could be laying the foundations for a strong breakout. It is said that there is. This view is consistent with the broader sentiment that Solana's resilience above $210 could serve as a stepping stone to the next stage of the rally.
As one of the leading altcoins in the cryptocurrency market, Solana has garnered attention for its solid performance and potential to lead the next phase of the bull market. Prices are now consolidating after a sharp decline, and all eyes are on SOL's ability to maintain critical support and regain momentum. Whether Solana can deliver on its bullish promises will be a key focus for traders and investors alike in the coming weeks.
Solana holds major demand
Solana is currently trading above $210, a key level for this cycle. This price point, which previously acted as a significant resistance level, has now turned into a key support level, setting the stage for Solana's next potential rally. The importance of this level cannot be overstated as it represents a key area for buyers to intervene to protect SOL's bullish momentum.
Renowned analyst Jere recently shared compelling technical analysis on X, highlighting Solana's strong prospects. According to Jere, Solana's monthly charts are poised for what he describes as an “absolute monster run.” His analysis shows how SOL price is currently testing the 2021 all-time high (ATH) as support, a key juncture that could determine its trajectory in the coming weeks. It's highlighted.
Solana testing 2021 ATH as support | Source: Jelle on X
Jelle's simple yet powerful chart shows that if Solana can decisively break above the $210 level, it could confirm the strength of this support and trigger a massive bull run. This rally could result in impressive gains for SOL and establish it as a standout performer in the crypto market.
Related books
For now, all eyes are on Solana's ability to maintain that momentum and aim even higher. As it rises above this essential level, traders and investors are closely monitoring its next move, expecting a potential historic price spike.
Price trends suggest big moves soon
Solana is trading at $221 and remains strong above the key support level at $210. This resilience is increasing confidence among investors as SOL’s price trend remains bullish across all time frames. Solana is gearing up for a major rally, but the $245 resistance level needs to be overcome first for the uptrend to be confirmed.
SOL Testing Significant Demand Above $210 | Source: SOLUSDT Chart on TradingView
Market trends indicate that SOL is well positioned to ride the upward momentum. Unlike other assets that may show signs of hesitation or possible consolidation, Solana shows a clear price structure that strongly favors a breakout. The lack of bearish signals further solidifies this outlook, as there is little indication of an impending correction or an extended sideways trade.
Related books
If SOL successfully manages to break through the $245 resistance level strongly, it could trigger a wave of buying pressure and push the price to new heights. This setup has many traders focused on Solana's next potential level, with broad market sentiment favoring continued upside.
Featured image from Dall-E, chart from TradingView
