Many crypto assets recovered on Tuesday after weeks of selling pressure. This included the best-performing cryptocurrency, Solana, which rose by about 10% in 24 hours. Investors are hoping that the market is turning positive due to this increased momentum.
Gil, a prominent analyst, provided a technical analysis on X regarding Solana’s recent price action. According to Gil, Solana should reach $210 next.
Solana’s technical structure makes it a front-runner in the market rally, which is attracting attention. Investors are watching the price action to determine if it can maintain the momentum.
Solana the Powerful
Solana has held above $180 despite the market volatility. Solana’s strength is shown by this price point moving from resistance to support. With signs of hope emerging in the crypto market, Solana could surge significantly.
Leading analyst Gil recently highlighted Solana’s recovery from critical levels in his technical analysis on X. Gil says that SOL retested the trend line and horizontal support before quickly recovering.
Technical setups suggest that the asset is ready for a bigger breakout. The next important resistance area is $210. If Solana recovers and consolidates above this level, it is expected to make new all-time highs.
Many experts and investors who follow Solana price action share this strong outlook. Many expect SOL to quickly surpass its previous highs after surpassing $210.
Solana’s strong fundamentals and recent price success have helped it stand out in the market rally. Solana could lead the next bull run and quickly break its previous record highs if the momentum continues.
Key levels of technical analysis
After bouncing off the 200-day moving average at $175 on December 23, Solana (SOL) is trading above $207, showing exceptional resilience. Holding the 200-day moving average has confirmed a bullish price structure, allowing buyers to regain control after weeks of market uncertainty. Solana is one of the most likely assets to breakout after defending this important level.