Solana (SOL) has become one of the most significant players in the cryptocurrency market with its previous price successes. The SOL price has consistently risen, attracting the attention of investors and traders. Most recently, it reached a new annual high of $174.07, setting a target for breaking the all-time record.
Solana at the Summit of the Last 25 Months
Solana has reached its highest level in the last 25 months, drawing significant interest from crypto investors. Many market experts foresee SOL approaching its all-time high. Cryptocurrency analyst Crypto Jelle shared his views on SOL’s latest rally, noting that SOL has surpassed all major resistance levels. This indicates that the cryptocurrency could reach new highs in the short term.
Jelle is optimistic about Solana and mentions that he has been holding SOL for a long time and does not plan to sell in the near future. He also believes that buying SOL now could be a good entry point for future gains.
Interest in SOL Could Grow Further
As Solana continues to rise, Jelle believes that new investors will show interest in SOL tokens and that buying SOL will become an entry ticket for them.
According to Crypto Jelle, SOL and Injective (INJ) are among the most important assets in his crypto portfolio. Jelle claims that both crypto assets are currently in an upward trend, signaling the start of a bull market.
He also notes that SOL and INJ have regained their peak as “altcoin market leaders.” Therefore, he thinks other altcoins will follow their lead in this bull cycle.
The $208 Resistance Level Could Be Tested
Crypto expert Rekt Capital points out the possibility of Solana testing the $208 resistance level in the short term. He emphasizes that SOL is displaying a strength similar to the 2021 bull cycle. The cryptocurrency SOL has shown an increase of over 118% since it left the green zone. Moreover, it has shown an increase of more than 53% since it broke out of the Rising Triangle pattern.
For all these reasons, there is a belief that SOL could “retest the $208 resistance level” in the coming months. So far, SOL has recorded an increase of over 23% last week, indicating increased buying pressure in the crypto market.
