$SOL Solana recently reached an all-time high but has yet to break the 300$ mark, with traders remaining optimistic about a rebound.

Bullish Trader Sentiment

*/ Long/Short Ratio: Coinglass data shows 54% of traders hold long positions, indicating confidence in a price surge.

*/ Transaction Activity: Increased blockchain activity, highlighted by Glassnode, supports bullish sentiment and could propel SOL past its peak.

Technical Indicators

*/ EMAs: SOL trades above its 20- and 50-week EMAs, confirming an upward trend.

*/ Bull Flag Pattern: This chart formation signals potential continuation, with SOL positioned to test $325.

Potential Scenarios

*/ Upside: Sustained buying pressure could push SOL above $325.

*/ Downside: Selling pressure risks a drop below $200.

SOL remains a strong contender in the crypto market, with technical and sentiment signals pointing to further growth.