Solana (SOL) is currently trading above the critical $200 support level, despite recent market volatility and heavy selling pressure. As one of the strongest assets in the crypto market, Solana has sustained its bullish momentum from 2023, with investors and analysts closely monitoring its price action.
According to top analyst Jelle, Solana is holding the key support level around $200, and a bounce from this region is necessary for SOL to remain short-term bullish. If bulls successfully defend this level, Jelle expects a surge above $220 in the near future, potentially paving the way for a broader recovery and a rally back toward all-time highs.
However, if Solana fails to hold above $200, it could face further downside pressure and a more extended consolidation period. The next major demand zone lies around $180, and a drop to this level could signal a longer consolidation phase, delaying the anticipated bullish continuation.
The coming days will be crucial in determining Solana’s short-term trajectory. If SOL reclaims $220, a rally back toward $250-$260 becomes increasingly likely. On the other hand, losing $200 would shift sentiment bearish, putting downward pressure on price action.
Despite the uncertainty surrounding the crypto market, Solana’s strong fundamentals and bullish long-term momentum keep investors optimistic about its future prospects. The next few trading sessions will be crucial in determining whether SOL can resume its uptrend or face further downside pressure.
Tags: Solana, SOL, Solana price, crypto market, technical analysis
Source: https://www.newsbtc.com/news/solana/solana-could-target-220-if-it-holds-current-levels-analyst-expects-short-term-bullish-momentum/