- Solana, a prominent altcoin, is showing signs of a bullish resurgence, with analysts predicting a rise above the $200 mark.
- Crypto analyst Maximilian FX points to the ascending growth of SOL on the D1 timeframe as a key indicator of this potential recovery.
- Another analyst, Orson Fawley, suggests that Solana has established strong support at around $125, further bolstering the case for a price rally.
As Solana shows promising signs of a bullish resurgence, crypto analysts predict a rise above $200. With strong support at $125 and an ascending growth on the D1 timeframe, SOL could be set for a significant rally.
Solana’s Ascending Growth on D1 Timeframe
Crypto analyst Maximilian FX has predicted that the Solana price could be on its way to a resurgence. The analyst points to the ascending growth of SOL on the D1 timeframe as one of the reasons why the altcoin is set to recover. The crypto market has also reversed from its bullish trend, pushing the Bitcoin price above $63,000 for a brief period. Maximilian FX believes that the SOL price will recover above $200 again, despite a retracement back down to $143. “Based on the setup and current trend, the most likely target for a resistance breakout is D1 at 172.33. In this scenario, we are waiting for further growth towards the target of 200.00,” Maximilian FX stated.
SOL Establishes Support Above $125
Another crypto analyst, Orson Fawley, has predicted that the Solana price is getting ready to beat the $200 level once again. The analyst outlines that Solana has seen support develop at around $125.80, and this level continues to serve it well. For now, the price is moving toward resistance at $157, which has now become the point to beat. Fawley explains that if the altcoin is able to successfully clear this level, then $180 is the next stop. “On the other hand, SOLUSDT might still retest the support once more before the upward trend is firmly established,” the crypto analyst said. Currently, the Solana price is trending at $146, with a 6.39% loss in the last 24 hours. However, on the 7-day chart, the altcoin is performing much better, with a 20.23% gain.
Conclusion
With strong support at $125 and an ascending growth on the D1 timeframe, Solana is showing promising signs of a bullish resurgence. Both analysts Maximilian FX and Orson Fawley predict a rise above the $200 mark, suggesting a potential rally for the altcoin. As the crypto market continues to recover, investors will be closely watching Solana’s performance in the coming weeks.
