SOL Price Outlook: Can it reach a new yearly high and challenge the $210 mark?

In recent times, the SOL token has shown a strong bullish trend, and the market generally expects its price to strive to hit and retest the yearly high of $210. This optimistic expectation stems from the fact that SOL has successfully broken out of a key bullish double bottom pattern and is currently facing an overhead resistance level of $202. It is worth noting that this resistance level looks weak, paving the way for SOL to hit the yearly high again. However, it cannot be ignored that Solana is currently experiencing a correction phase and has fallen below the key support level of $190.

If Solana can continue to follow the current bullish trend, its immediate target range will undoubtedly be locked between $200 and $210. On the other hand, if it unfortunately loses the solid support area of ​​$180, it may trigger a reversal of market sentiment and force SOL to retest the previous swing low of $165.

In this context, the well-known options trader Trader Wick is also optimistic. He emphasized that the SOL/USD pair played a leading role in the rebound of the cryptocurrency market, and pointed out: "Solana has performed well as always in the rebound. With the breakthrough of the resistance level, the prelude to the new trend has been opened." This view undoubtedly adds some expectations and confidence to the subsequent trend of SOL.

$CVP $CVX $BOME #比特币大会 #美国以太坊现货ETF开始交易