Solana Back Above Weekly & Monthly Support Levels – Analyst Expects New ATH
Solana is currently trading above key demand levels, demonstrating resilience after weeks of market uncertainty. However, the altcoin has yet to confirm a breakout of the daily downtrend that began in late November. As SOL continues to hover near key technical levels, analysts and investors are keeping a close eye on decisive moves that could mark the start of a massive rally in price discovery.
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Top analyst and trader Jelle recently shared a detailed technical analysis of X, highlighting that Solana has reclaimed key weekly and monthly support levels. Jelle said SOL’s ability to remain above these support levels is a strong bullish indicator. The development has fueled optimism among investors, who see Solana’s current integration as the basis for a major breakthrough.
Despite the positive signs, SOL needs to overcome daily downtrend Confirmation of bullish reversal. A clean break above this trendline would signal that momentum has shifted in favor of the bulls, setting the stage for a potential rally toward new highs.
With market sentiment improving and technical indicators aligned, Solana may soon become the leading asset in the cryptocurrency market recovery. The next few days will be key in determining whether SOL can exploit its strong support level and push higher.
Solana Holds Key Levels—Breakout Imminent
Solana showed new strength in the market, breaking above the key $180 and $205 levels. The move reignited investor confidence, with many viewing Solana as a trendsetter poised for further gains. After weeks of market uncertainty, SOL’s ability to regain these levels signals a possible bullish resurgence.
Top Analyst Jelle Recently Shared technical analysis of Xunderscoring Solana’s strong position. He highlighted that SOL is back above key weekly and monthly support levels, adding that its current price action suggests it is ready to push higher. Jelle said Solana’s technical indicators are consistent with the possibility of a new all-time high in the coming weeks.
However, the path forward is not without challenges. Solana remains within the broader bearish structure that began in late November, and a clean breakout is needed to confirm the start of a new uptrend. Overcoming this structure will establish clear bullish momentum and set the stage for a rebound in price discovery.
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The next few days will be crucial for Solana as it navigates this critical moment. If the altcoin can maintain momentum and break out of the bearish framework, it could solidify its position as a market leader and drive investor excitement for the rest of the year.
Testing critical needs push higher
Solana (SOL) is currently trading at $214 and is testing key support at the 4-hour 200 moving average (MA). This level is an important indicator of short-term momentum, and staying above it will be crucial for SOL to maintain its bullish structure. The market is watching closely to see if Solana can use this support as a springboard for a breakout.
To reignite bullish momentum, SOL must break above the descending trendline that has defined its price action since November 22. A decisive move above this resistance level will signal strength and pave the way for a rebound. Analysts point to $230 as a key level for recovery. If SOL manages to break above this mark and hold it as a support level, the rebound is expected to be massive and fast, potentially pushing the price to new highs.
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However, risks remain if SOL fails to rise above $220. This scenario could indicate that the bearish structure remains intact, potentially pushing Solana into a deeper correction. Maintaining support at the 4-hour 200 EMA is critical to avoid further declines and maintain investor optimism. The next few days will be crucial for Solana’s price action.
Featured image from Dall-E, chart from TradingView
