Peter Smith
Solana (SOL) has reclaimed its bullish momentum, trading around $240 after breaking through the $205–$215 resistance zone. The coin continues posting higher highs and higher lows, confirming a strong uptrend.
Chart Analysis: Strong Technical Structure
SOL cleared the $205–$215 barrier, which now serves as strong support. Currently consolidating near $240, the price action maintains upward momentum with a clean sequence of higher highs and higher lows supporting bullish conviction. According to trader Mindfreak, as long as SOL holds above $235, the next target could be $295 with potential to reach $300.
Key resistance sits near $295–$300, matching the prior swing high of $295.83. However, a break below $235 risks revisiting the $215–$205 support zone.
Why Solana Is Outperforming
Solana's DeFi and NFT markets continue expanding, attracting fresh liquidity to the ecosystem. As Bitcoin consolidates, investors are rotating into altcoins showing strong momentum. The breakout above $215 came with solid buying interest, signaling market confidence in SOL's trajectory.
Price Scenarios
Holding above $235 keeps bulls in control, clearing the path to $295–$300. Neutral scenario: A retest of $215–$205 would reset momentum but preserve the broader uptrend. Bearish case: Only a decisive drop below $205 would negate the current bullish structure and signal a potential trend reversal.
Peter Smith
