Analyst Eyes $387 For Solana As Key Support Levels Strengthen
Despite the turmoil in the market, Solana (Sol) showed resilience by maintaining critical support levels, which analysts believe can serve as a launch pad for further improvement. In the coming months, a stable pricing structure may open the door to a $387 increase, as Sol currently trades about $204. But how feasible is this goal?
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Maintain critical support levels
Solana maintains vital abilities Support area It has been one of its most powerful suits in recent weeks. Despite the overall market decline, SOL showed positive momentum despite stability and stability. Analysts believe that if Solana can continue to support around $200, the next upward target could exceed $300, and $387 could be a possible peak.
Solana currently has a market capitalization of over $98 billion, making it one of the best performing assets in the past few months. SOL has remained in a strong upward effect over the past 24 hours, showing a nearly 3% increase.
According to cryptocurrency researcher Ali Martinez, Solana is currently testing important support areas for the lower boundary of parallel channels. Such a level of support is very important because if the SOL manages to hold it, the trend may be stronger, which can lead to very severe price pumps.
#solana $ sol The key support level of the lower boundary of this parallel channel is being tested. Keeping it above enhances the uptrend, bringing the uptrend to $387! pic.twitter.com/ezdpgczkxr
– ali (@ali_charts) February 8, 2025
Solana’s network growth surges
Another factor in the excitement of the region is the rapid expansion of the Solana network. Claiming to generate more than 5 million new addresses in a 24-hour period, research shows that usage is rising. The increased demand for tokens is a common result of increased on-chain activity, so this surge in user participation may be the main driver of SOL prices.
If this trend continues, Solana may have an advantage over its competitors, thereby enhancing its long-term optimistic case.
Nevertheless, some analysts are skeptical of the feasibility of this explosive development and advise investors to confirm the facts on the chain before making a decision.
Can Solana actually make $387?
Achieving the $387 level would mean that Altcoin would be priced at 91% higher than its current valuation. Many factors may get in the way of you, but some market observers believe the goal is not difficult.
In addition to the favorable macro-macroeconomic environment, the large bullish sentiment of Solana’s original currency, the large acceptability of Solana’s original currency, and the network upgrade is enough to enable SOL to achieve new milestones.
Historically, Altcoin price movements reflect Bitcoin’s price trends. So, for Solana to climb to $300-$400, Bitcoin must exceed $105,000.
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The way forward for SOL investors
Although Solana’s technology and fundamental prospects are promising, volatility Like all crypto assets, it’s still a big factor. Although it may exceed $387, traders should keep an eye on market trends, Bitcoin’s movement, and on-chain data to predict Sol’s next big move.
Featured images from SOPA Images/Getty Images, Charts from TradingView
