With the rapid rise of Bitcoin 
$98,381, Solana 
$197 (SOL) has exceeded significant resistance levels over the weekend. Achieving a price of $211, SOL has returned to its peak value from the previous year, holding potential for new highs. However, as of 00:35 EST, SOL’s price has decreased by 1.5% and is trading at $205.33.
Analysts Confident in High Targets
Crypto analyst Corne Marchand notes that the SOL price is targeting new peaks. Marchand states that the only major hurdle for Solana to reach a new all-time high is the $248 level, previously recorded as its highest point.
Corne Marchand remarked, “Once SOL surpasses the $248 level, it could rise to $360.”
Technical Analysis and Support Levels
After reaching a market capitalization of $100 billion, Solana has declined back to the $99 billion level. Marchand predicts that the current bullish trend could push SOL’s price between $900 and $1000, supported by historical data indicating these levels are attainable.
In the last 24 hours, Solana’s trading volume increased by 136%, suggesting the price breakout is robust. The rising Average Directional Index (ADX) indicates continued buying pressure for Solana. If SOL fails to surpass the $211 level, the bullish momentum may be invalidated, potentially bringing the price back to $175.
Long-Term Goals and Key Resistance Levels
Solana has the potential to exceed $900 or $1000 in the long term, with some forecasts suggesting this could rise to $2000. These targets might coincide with the peak phase of the bullish market.
Investors should closely monitor resistance points, particularly at $211, $263, and $330. These levels align with Fibonacci expansion ratios and indicate areas where prices may face rejection.
For investors in Turkey, technical indicators and trading volume of Solana emerge as crucial factors in making investment decisions.
