Solana will recover to $1000, but resistance limits it.
The target of $200 seems harder to achieve for Solana, which is still experiencing resistance. The market's bearish winds and the decline in online investor participation have made this difficult. Solana's prices struggle to stay above $150.
However, the market sentiment is turning favorable, therefore Solana's price may recover quickly. Many cryptocurrency specialists believe that the cryptocurrency has growth potential, and one even predicts new all-time highs.
They claim that the return of the digital asset in early April showed strength in a recent examination. Solana bounced off the MA200 of 1 week in early the month and continued to rise throughout the month.
With momentum, the cryptocurrency saw many weekly closes and ended April with another green candle. This puts it on track toward the next crucial level in the MA50 of 1 week and the blue trend line at $170, as illustrated in the chart below.
This is the key level that Solana must break to continue its bullish run in May. The cryptocurrency researcher notes that if the price of SOL can break this level, it could sustain the cryptocurrency. The bullish support around $170 could help Solana's price recover again to $200.
First, we must see Solana break the blue trend line at $170. If this works and the bottom is in place, $350 is the next important target. The cryptocurrency expert refers to this $350 target as the upper high of the wedge.