$SOL

The price of Solana is moving sideways between $140 and $150 dollars, but it continues to defend a critical support level on the weekly chart, suggesting that a rally is approaching. Additionally, SOL is expected to surpass $300 dollars, reflecting previous cycles that preceded rises to historical highs.

The value of SOL today shows signs of entering a recovery phase that could culminate in a 100% increase to $300 dollars. This is according to analyst Mihir, who noted that SOL has had an upward trend since 2023 and is defending the resistance at the lower ascending trend line.

In his analysis, Mihir pointed out that whenever the price of SOL rebounds from this trend line, it enters a bullish trend. In 2023, the token recorded a 2x rally after making such a rebound, and later in 2024, SOL had a parabolic bullish trend from under $20 dollars to a historical high of $294 dollars after recovering from this support level.

If history holds, Solana may have entered a recovery phase, which could drive its price up to $300 dollars in the short term. This bullish momentum could occur in the coming months.