Solana (SOL) is making a strong comeback, jumping 4.95% to reclaim $230 after a sharp 15% pullback. The recent bounce suggests that$SOL may have reached a local bottom, setting the stage for a potential rally to $250 and beyond.

With long positions on the derivatives market increasing and key technical levels remaining high, the question arises: will SOL break through to $250 or face another pullback?

📊 Market dynamics of SOL: signals for growth are emerging

Despite recent volatility, market data indicates a rise in optimistic sentiments:

✅ Derivatives market favorable for bulls

According to Coinglass' liquidation map, long credit positions increased to $212.88 million, while shorts amount to $106 million. With over 66.7% of credit positions betting on growth, this bullish sentiment could fuel further increases.

✅ Accumulation by whales and institutional investors

Major players often accumulate during downturns, and on-chain data suggests significant buy orders in the $222–$230 range. Institutional investors demonstrate confidence in Solana's long-term potential despite media fears.

✅ Fair value gap (FVG) and support remain strong

Solana is currently above the critical support zone ($222–$230), backed by Fibonacci levels. If this level remains intact, there is a high probability of retesting $244, $250, and potentially $258.

🔍 Key levels to watch for the next SOL movement

Solana is currently in a critical consolidation phase within ascending channels, making the following levels crucial:

📌 Support levels:

🔹 $230 – Strong support level. Falling below this may signal further decline.

🔹 $222 – Key Fibonacci support zone protecting buyers.

📌 Resistance levels:

🔸 $244 – Immediate resistance zone. A breakout here would indicate a continuation of the bullish trend.

🔸 $250 – Next major price target. Breaking this level could send SOL to $258.

🔸 $270 – High price area (VAH), potential breakout zone.

📈 What's next for SOL?

The Balance of Power (BOP) indicator shows that sellers currently have moderate control, but buyers could regain dominance if SOL holds above $230.

🔹 A breakout above $244 would signal a resumption of bullish momentum, likely pushing SOL to $250 and above.

🔹 However, failing to hold above $230 could lead to a deeper pullback, potentially testing $222.

🎯 Final thoughts: Can SOL reach $250?

Given strong institutional interest, rising long positions, and holding key support, Solana appears ready for a move towards $250–$258 in the near term.

⚡ Watch for a breakout above $244 — this could trigger a stronger rally.

⚡ Be cautious of falling below $230, which could indicate further downside risks.

💎 Are institutions trying to sow fear around Solana? Smart money may accumulate while retail traders are in panic. Don't get shaken out — stay informed and watch key levels!

🚀 Do you think SOL will break above $250? Share your thoughts!

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