Solana Reclaims Monthly And Weekly Support Levels – Expert Sets $330 Target
Solana (SOL) has staged a remarkable recovery following Monday’s unexpected flash crash, surging more than 28% in less than five days. This impressive rally has reignited optimism among investors, who are now eyeing the potential for continued bullishness in the coming weeks. The rapid rise in price has made Solana one of the cryptocurrency market’s best-performing assets, signaling a potential shift in momentum.
Related reading
Renowned analyst Jelle recently shared detailed technical analysis, highlighting that Solana has broken out of a long-term downtrend. According to Jelle, SOL has managed to reclaim key monthly and weekly support levels, suggesting a major move may be on the way. These levels are often considered a key benchmark for long-term stability, suggesting Solana’s recent gains may be more than just a temporary bounce.
If Solana can keep this momentum goingit may not only recover from its recent losses, but also pave the way for further gains, potentially overtaking other major altcoins. With technical indicators aligned with market enthusiasm, Solana could be gearing up for a compelling breakout rally.
Solana will enter price discovery phase
Solana (SOL) emerged as one of the market’s best performers in 2024, rising an impressive 170%. This outstanding performance solidifies its position as the market leader and highlights its resilience and growth potential in the cryptocurrency space. Optimism surrounding Solana remains high as 2025 approaches, with many investors anticipating significant gains in the coming months.
That momentum already seems to be building as Solana begins the year with the potential to breakout. Well-known analyst Jelle recently shared insights on X, noting that SOL has successfully broken out of the downward trend that has restrained it since late November.
Additionally, Solana has regained monthly and weekly support levels, a key milestone that signals the asset has returned to bullish fundamentals. Jelle said Solana’s price action is “super clean,” indicating the cryptocurrency is well-positioned to achieve higher valuations.
Jelle sets an initial target for SOL at $330, a level that not only signals a significant recovery but could also propel Solana into a price discovery phase. This phase typically sees a rise in market interest and volatility as traders and investors recalibrate their expectations of the asset’s long-term value. With technical indicators and market sentiment aligned, Solana appears poised to capitalize on its upward trajectory.
Related reading
If Solana maintains this bullish momentum, it could continue to make headlines as the best-performing asset in 2025. As expectations for further gains intensify, traders and investors are keeping a close eye on key levels, knowing that the cryptocurrency’s next big move could redefine its role in the broader crypto ecosystem.
SOL Test Key supplies about $220
Solana (SOL) is currently trading at $218, approaching a key level that could determine its next big move. The price is on the verge of setting a new local high above $222, which acts as a major resistance point. A break above this level would mark a strong bullish continuation, setting the stage for significant price appreciation and a return to all-time highs (ATH).
Analysts believe that if SOL breaks above the $222 mark and maintains momentum, the next key level to watch is $250. Recovering and holding $250 as support would pave the way for Solana to enter uncharted territory, pushing its price to new all-time highs and potentially starting a price discovery phase. This development will further solidify Solana’s position as a market leader and attract more investor attention.
Related reading
However, failure to break the $222 resistance or reclaim the $250 level could lead to a consolidation phase. This pause in price action could delay Solana’s rise, but could also set the stage for new momentum ahead. With market participants keeping a close eye on these levels, Solana’s price action in the coming days will be crucial in determining whether the cryptocurrency begins its next major upward phase or enters temporary holding mode.
Featured image from Dall-E, chart from TradingView
