Renowned crypto analyst and investor Jelle recently shared a technical analysis on X, expressing optimism about Solana's future price trajectory. According to Jelle, the pullback is a healthy correction that allows SOL to build the necessary strength for another significant rebound. He predicts that Solana will set a new historical high before Christmas, laying the groundwork for an exciting end of the year.
Renowned crypto analyst and investor Jelle recently shared a technical analysis on X, expressing optimism about Solana's future price trajectory. According to Jelle, the pullback is a healthy correction that allows SOL to build the necessary strength for another significant rebound. He predicts that Solana will set a new historical high before Christmas, laying the groundwork for an exciting end of the year.
As Solana maintains its position above key levels, investor interest remains strong, with all eyes on the $264 barrier as bulls prepare to push the token into price discovery once again. The coming weeks will be crucial, and SOL has the potential to regain momentum and achieve significant gains. If the bullish predictions hold true, Solana may solidify its position as one of the standout performers in the crypto market this cycle.
Strength
Solana (SOL) continues to show bullish momentum, maintaining strong momentum above $210, which previously served as a key resistance support level. This price action indicates a healthy pullback, allowing the market to reset before another potential rise. Solana's ability to hold this level reinforces the bullish narrative, suggesting it is preparing for another upward movement.
Top crypto analyst Jelle recently shared his insights on X, expressing confidence in Solana's price trajectory. Jelle's technical analysis predicts SOL will reach new highs before Christmas, with a short-term price target of $300. He emphasized that the current consolidation phase is a positive signal as it allows accumulation and builds the necessary momentum for a breakout.
Solana rebounds from key demand | Source: Jelle on X
However, despite the optimism, if SOL fails to break its historical high (ATH), the possibility of a long-term consolidation phase looms. This scenario could lead to a temporary stagnation in price movement, with traders waiting for clearer market direction, causing SOL to consolidate sideways. Such a consolidation phase is not necessarily bearish but may delay the anticipated rebound.
For Solana to reach Jelle's $300 target, bulls must reclaim and maintain levels above the ATH, indicating strength and reigniting buyer interest. If successful, Solana will once again enter the realm of price discovery, ensuring its status as one of the best-performing crypto assets in the current market cycle.
SOL tests liquidity levels
Solana (SOL) is currently trading at $232, showing resilience after successfully maintaining the key demand level at $210. This critical support has proven essential for sustaining bullish momentum, allowing the price to recover and consolidate above $222. The ability to stay above this level has boosted investor confidence, with the focus now shifting to higher targets.
SOL is testing liquidity around $230 | Source: SOLUSDT chart on TradingView
The next key resistance level for SOL is $246. A breakout above this level not only indicates a bullish breakout but also challenges and exceeds its historical high (ATH) of $264. Confirming a breakout at $246 will mark new momentum, potentially pushing Solana into uncharted territory and reigniting market excitement.
