Technical Analysis of SOL

Solana (SOL) just reached an ATH this week at $264 and has returned to a price level not seen since 2021. The price increased by 20%, making SOL the strongest performing coin in the top 10 after XRP and ADA.

At the time of writing, the price has entered a correction phase after recording a new high, and sellers may take profits at this historical level. As that trend subsides, SOL will enter a price discovery process similar to Bitcoin.

SOL currently has good support at $240 if selling pressure increases significantly. However, this upward momentum is expected to continue, and the price will set new records in the coming weeks. The current main target is $300.