$SOL approaches a key resistance zone, and analysts suggest that a breakout above $200 could trigger a price rise to $350. Despite the recent decline—currently trading at around $166—the market sentiment remains optimistic.
After a sharp jump last week, the price of Solana has consolidated between $165 and $175. Today, SOL has dropped by 2% amid a general sell-off in the crypto market, falling below $170. After a rejection at the resistance level of $185, Solana corrected nearly 10%. However, data from the blockchain indicates the potential for strong growth.
Market analysts are optimistic that if SOL surpasses the critical resistance level of $200, the next major target of $350 could be reached quickly. This forecast is supported by steady futures trading volumes, which remain at $6.5 billion, and a 20% growth in the GDP of the Solana blockchain to $1.2 billion in Q1 2025. Additionally, the market capitalization of stablecoins on Solana has increased by 145% to $12.5 billion.
Although the path to $350 depends on overcoming key resistance levels, current indicators suggest that Solana is poised for significant growth if it can maintain momentum and break through the $200 threshold.
