‘Solana Season Is About To Return’ As Price Turns Key Resistance Into Support – Analyst
Solana has been in the spotlight this week for its volatile price action, showing resilience amid market uncertainty. After falling to a low of $168, SOL surged over 22% to $207, signaling renewed strength and bullish momentum. The impressive recovery has reignited optimism among investors and analysts, many of whom now expect a swift recovery and a possible bullish rebound.
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Top analyst Jelle shares compelling technical analysis highlighting that a “Solana season” could be on the verge of a major comeback. Jelle said Solana’s recent price action points to a significant shift in market structure. The downtrend appears to have reversed, with key resistance levels now acting as support. This key development could pave the way for further gains in the coming days.
Solana continues to lead among altcoinsits ability to maintain and build on this momentum will be closely watched. With analysts predicting a strong economic recovery and investors eyeing new opportunities, all eyes will be on SOL to see if it can sustain this bullish trajectory and regain its position as the market’s top-performing asset.
Bullish breakouts and sentiment shifts
Solana has shown remarkable strength in recent days, with its supply breaching key supply levels after weeks of selling pressure. While the broader market remains volatile, Solana has managed to inspire confidence among investors and analysts with its steady climb. However, the asset still faces a major challenge: regaining local highs around $220. Reaching this milestone could set the stage for a bull rally into uncharted price territory.
Top Analyst Jeller Recently shared an optimistic technical analysis on Xemphasizing the huge shift in Solana’s market structure. Jelle said the downward trend that defined Solana’s recent performance has officially reversed, with key resistance levels now acting as solid support. This key development is a bullish sign for Solana’s prospects, reinforcing the view that the asset is nearing the end of its consolidation phase.
Jelle emphasized that there is one final hurdle before Solana can enter the price discovery phase: a decisive breakthrough above the $220 mark. If the bulls can overcome this hurdle, a massive rally is very likely. Sentiment around Solana is increasingly positive, with many investors agreeing with Jelle that “Solana season” is coming.
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As Solana prepares for a breakout, market participants are paying close attention to its ability to maintain momentum. If Solana manages to reclaim $220 and establish it as support, the price could surge to new all-time highs. With sentiment turning bullish and technical indicators converging, Solana is poised to regain its status as one of the most exciting assets in the cryptocurrency space.
Bullseye at $222 as momentum builds
Solana is trading at $209 after Wednesday’s bullish performance, signaling renewed market confidence. The cryptocurrency has shown impressive resilience, climbing steadily off recent lows and holding on to key support levels. As bullish momentum builds, Solana is expected to challenge higher resistance in the coming days.
The immediate target for the bulls is to recapture the $222 mark, an important level that could determine the trajectory of Solana’s next move. A successful break above this price and converting it into support would confirm the continuation of the bullish trend. This would also set the stage for Solana to reach an all-time high (ATH), a psychological milestone for both traders and long-term investors.
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Analysts say ATH could surge quickly once Solana breaks above the $222 level. Market sentiment remains positive, with many participants expecting Solana to lead a new wave of upward momentum in the altcoin space. If price continues to hold key support levels and bulls maintain control, Solana is expected to regain its status as one of the market’s best-performing assets. Currently, all eyes are on $222, the next critical step in Solana’s bullish journey.
Featured image from Dall-E, chart from TradingView
