Solana SOL is benefiting from recent bullish sentiment. The asset recently recovered a value of $160 and is trading around $166 at press time. Additionally, SOL is up more than 6% today and nearly 16% over the past week.

Solana is back with its trending price momentum, claiming old price marks could break out to new price highs. The price of SOL is also rising due to the recent developments that the coin has encountered.

Last month was good for Solana as it gained more than 21% according to CoinMarketCap. Going into the year, there was a lot of optimism surrounding Solana. The network has long shown the potential to compete with Ethereum as the top decentralized network. Just four months into the year, that has proven to be true.

As the meme coin on the network grows, all of Solana has gained, including the native SOL. New trend analysis for SOL shows that the token is currently “compressing” within a triangle pattern, indicating that price increases are imminent. If all goes well, the bullish trend triggered by the triangle pattern could lead the SOL price to hit the $200 mark again, and possibly even higher.

Due to this bullish momentum, SOL is expected to hit new all-time highs in the next bull run. Considering all the positive sentiment surrounding the asset and its native network, $250 is not an impossible target.

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