$SOL
Solana (SOL) is indeed showing strong bullish momentum, having bounced back from $201.09 to a 24-hour high of $213.37. Currently trading at around $210.86, SOL has seen a 1.42% increase. Let's break down the key points¹:
- *Support Level*: The $210 zone is crucial for the continuation of the bullish trend. If SOL holds above this level, it could potentially head towards fresh highs.
- *Resistance Level*: The $230 level is a potential target for the bulls. A breakout above this level could fuel further upside momentum, with potential targets ranging from $368 to $490.
- *Market Sentiment*: Solana appears bullish on the weekly timeframe, with the 50-day moving average acting as support and the 200-day moving average sustaining the trend since February 2025.
- *Trading Volume*: The trading volume confirms that buyers are stepping back in, indicating potential continuation if SOL holds above $210.
Some potential targets for SOL are:
- *Short-term Target*: $215-$230
- *Long-term Targets*: $368-$490 if SOL breaks and holds above $230-$260
It's essential to keep an eye on the market sentiment and adjust your strategy accordingly. The current momentum suggests that SOL could be heading towards fresh highs, but it's crucial to be aware of potential risks and adjust your stop-loss levels accordingly.²