Solana had touched $200 earlier in the year but this was only briefly before falling back to $150. At this point, Solana indicators are starting to flash bullish, leading crypto analysts to expect a resurgence above $200 for the altcoin.
Solana shows growth in the D1 time frame
Cryptocurrency analyst Maximilian FX said And he expected Solana's price may be on its way up again. The analyst points to SOL's bullish growth on the D1 timeframe as one of the reasons for the altcoin's recovery.
Maximilian FX explains that the cryptocurrency market has also reversed its bullish trend. This happened earlier in the week and the market started to recover again, pushing the price Bitcoin price More than $63,000 briefly.
Taking into account the bullish momentum of the market, the cryptocurrency analyst believes that Sol price It will recover above $200 again. However, it shows a bearish bounce back to $143, which has since been reached in the early hours of Wednesday.
From here, the analyst expects the price of SOL to continue rising. “Based on the current setup and trend, the most likely target for a resistance break is D1 at 172.33. In this scenario, we wait for further growth towards the 200.00 target.
SOL establishes support above $125
Another cryptocurrency analyst, Orson Fowley, did just that And he expected That Solana price is preparing to overcome the $200 level again. The analyst explains that Solana has seen support develop at around $12.5.80, and this level continues to serve it well.
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Currently, the price is moving towards the resistance at $157, which has now become the point to overcome. If the altcoin can successfully cross this level, $180 is the next stop, Foley explains. “On the other hand, SOLUSDT may continue to retest support again before the uptrend is firmly established,” the cryptocurrency analyst said.
currently, Solana price The price is trending 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