Solana Monthly Candle Reclaims Key Levels: Is #AltcoinETFsPostponed $240 the Next Target?

Solana stock has held strong above the $145 level, maintaining an uptrend despite recent market volatility. However, the bulls have failed to decisively clear the $155 resistance zone, a key level that could open the door to a broader rally. While the current price action favors buyers, the lack of a breakout suggests a potential bounce if momentum continues to fade.

Prominent analyst Jele shared his insights on the stock, noting that Solana's monthly candle "doesn't look too bad." According to Jele, Solana stock has cleared all consolidation lower levels yet managed to close above those levels—a positive technical signal that suggests resilience and potential for continuation.

Nevertheless, traders remain cautious, with many eyeing the $155-160 range as the next significant hurdle. A confirmed break above that zone could signal a move toward previous record highs, while continued rejection could spur a healthy correction toward lower demand levels $SOL