Solana (SOL) Predictions: When will the rally towards $200 happen?

During 2023, Solana had an explosive ride in the crypto market, surprising many analysts. Cryptocurrencies have previously been written off as dead, with even Arthur Hayes calling it a shitcoin when the SOL holdings held by Alameda Research were mentioned. Over time, even numerous technical failures did not cause problems with the price of the token.

This amazing uptrend continued into 2024, but the last few days SOL has been in full consolidation. As a result, he is struggling to get back on track. The famous $200 barrier still seems to stand in the way of ETH’s competitor. At the time of writing, Solana is trading at $165.40, 17.3% below this price target.

To go further: how to buy Solana (SOL)?

Technical analysts are bullish on Solan

However, technical analysis experts remain optimistic about Solana’s chances of climbing to this symbolic mark. In a post on Twitter and focusing on the 4-hour SOL chart, @SatoshiFlipper pointed out that the cryptocurrency is in a “falling wedge” and that a triangle break could push it to at least $190.

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This analysis is taken up by Clifton_Ideas in a post on the X social network.

However, it is @Trader1sz’s post that offers a more comprehensive view of the current situation. In fact, as it resets support and resistance levels to watch in the coming days.


According to his chart, the next technical level that Solana could reach would be $183.44. That before it climbs to $204.25. On the other hand, if SOL fails to hold the $162 support, there is a good chance that the asset will fall back to $141 or even $121.

In the long term, analysts are more optimistic. For @Captain_Kole1 , Solana should reach $282 as it made a double bottom on the daily chart (1D).

Moral of the story: Solana is like a cat: she always lands on her feet, but she never knows if she’ll reach the highest branch.


Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult with an expert before making any financial decision.

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