Solana Breaks Daily Downtrend; Analyst Expects ATH

Solana started the year with a 12% gain, hitting $210 and reviving investor hope. Altcoins are rallying as market mood improves. Many are wondering whether Solana's recent surge is the start of a big rally for the high-performance blockchain.

In a technical analysis on X, top analyst Jelle highlighted a key Solana price action development. Jelle claims SOL has overcome a daily slump that began after its all-time high. This breakthrough suggests Solana may be preparing for a longer uptrend in the coming weeks.

Flipping $210 into support might lead to a lengthy surge for Solana. With cryptocurrencies rising across the spectrum, investors will monitor Solana's capacity to capitalize. As the new year begins, can Solana use this strong start to reach new highs and consolidate its crypto market leadership?

Price Action Indicates Movement
Solana is gaining speed as the crypto market recovers from local lows. The altcoin giant has risen after reaching a significant demand threshold over $180. This has encouraged investors, who see Solana as a robust and viable asset in the present market.

Top analyst Jelle just presented a comprehensive technical analysis on X, noting Solana positive trends. Jelle says SOL has broken out of its slump and recaptured monthly and weekly support levels. Solana is also trading above its 50-day exponential moving average (EMA), indicating a bullish structure and price strength.

These technical clues imply Solana is about to make a big move, perhaps pushing the price to new highs. A breakthrough will need high market activity and positive mood in the coming weeks to continue the surge.

Assessing Solana Technicality
The Solana (SOL) daily chart shows optimistic signals of strength following a rapid recovery from the $175 level, which corresponded with the 200-day EMA. This technical bounce has brought SOL to a crucial supply zone at $210, a milestone as it rises.


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