With previous price successes, Solana (SOL) It has become one of the biggest cryptocurrencies in the market, attracting the attention of investors and traders as its price continues to rise, reaching a new annual high of $172.
Solana (SOL) breaks through all critical levels
Solana has effectively reached a new 25-month high, indicating strong positive interest from crypto investors in the sector. Because of this, many market experts are predicting that the crypto asset is reaching new all-time highs.
Crypto Jelle, is a cryptocurrency trader and analyst shared His insights on Solana’s latest rally on X (formerly Twitter) given the importance of development.
The crypto analyst pointed out that “SOL has crossed every important level preventing it from reaching new all-time highs.” This suggests that the digital asset could reach new highs in the short term as there are only minor resistance levels ahead.
Jelle is bullish on Solana, asserting that it is “easily able to hold SOL at $20.” Moreover, he mentioned that he has no plans to sell his SOL holdings anytime soon, and shows his confidence in the coin to grow further.
As Solana continues to rally, Jelle is confident the property will to attract Many new retailers or investors. Additionally, buying SOL serves as their entry point to position themselves for future profits.
The post read:
SOL has broken all major levels standing in the way of new all-time highs. I’ve been holding this comfortably since $20 and I don’t plan on selling it anytime soon. New retailers will flock to the Solana token and buying SOL is their ticket to entry.
According to Crypto Jelle, SOL is the largest asset in its crypto portfolio along with Injective (INJ). Jailed said firmly Both crypto assets are currently trending upwards, signaling the start of their bull run.
Moreover, he claims that SOL and INJ Reclaimed top position as “altcoins market leader”. As a result, every other altcoin will “follow their lead” in this bull cycle.
The $208 resistance level may be revisited
Rekt Capital, is a crypto specialist pointed out Solana’s potential to revisit $208 resistance in the short term. Initially, he highlighted that the SOL is showing strength similar to the bull cycle of 2021.
Since the digital asset exited the green zone, it has risen more than 118%. It has risen more than 53% since breaking out of the ascending triangle.
As such, he believes “the $208 resistance level could be retested” in the coming months. so far, SOL It has risen more than 23% in the past week, indicating an increase in buying pressure in the crypto market.
Featured image from Shutterstock, chart from Tradingview.com
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