Solana (SOL) has broken through the $249 resistance level, reaching a new all-time high of $264 on November 22. This impressive breakout reflects strong demand, with no major overhead resistance in sight, suggesting the potential for further gains. If buyers can sustain the price above $248, SOL could rally toward $304, marking another significant milestone in its upward trajectory.
However, on the downside, the 20-day EMA at $218 serves as a critical support level to monitor. A drop below this level might indicate profit-taking by bulls, and if the price falls further below $200, it could signal a local top and a potential short-term correction. The big question now is whether Solana can maintain its bullish momentum or if a pullback is on the horizon. Share your thoughts and strategies as the market watches SOL’s next move!