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Solana (soil) has recovered crucial levels in the middle of its price rally, recording its highest scope in months. However, while the market resumption takes a break, cryptocurrency has reached a key level that could propel or delay its increase to new heights.
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The Solana rally faces a key barrier
Solana’s price has increased considerably in recent weeks, recovering from April and leaving its downward trend. After its summit of all time in January (ATH), Sol traced up to 63%, reaching a low of 14 months of $ 95 last month.
However, Solana climbed over certain crucial ranges when the market is resumed at the end of April, recovering the resistance of $ 140 as support for the first time in two months. Since then, the cryptocurrency has rallied almost 30% at the $ 180 mark, recording a maximum of $ 183 last week before trace in support of $ 170.
The merchant of Crypto Mercury noted that Solana had reached a “very HTF infection point”, which could again return the price of cryptocurrency to new Aths if they were recovered. However, the slowdown in the market blocked the floor rally, its price falling to the range of $ 165 to $ 170 this weekend.
After his recent performance, the merchant added that Sol had been rejected from the key inflection point “just enough to allow a retaining of the same trend that brought us here in the first place.”
Based on this, he considers that the recovery of the $ 180 mark and a possible escape from News Aths is on the horizon, “as long as this 4h 200mm trend.
Meanwhile, the abbot case analyst stressed that Solana’s multi -year trend remains intact despite recent withdrawals. As he explained, cryptocurrency is greater than 50% compared to its retratest of the multi-year auriannual trend line, apparently marking the bottom of Solana.
The analyst considers that Sol January Ath could not be the summit, and another record rally could arrive this year. Likewise, Trader Coinvo stressed the ascending trend line: “If soil continues to hold this trend, it goes much higher!”
Sol Eyes $ 200 Breakout
During the weekend, analyst Rekt Capital said that Solana had entered his post-re-compensation reactive range on the monthly time, successfully releasing the fork from $ 12 to $ 135 as a support in the last two months.
This higher delay key propelled the cryptocurrency to review the range of $ 165 to $ 175. However, he explained that Solana had to break above the upper limit to confirm an escape and continue to ascend, which he did not do during the end last week.
Sol must also break and retest the upper limit as a new support with a weekly closure above this brand to leave the key beach. In addition, the analyst stressed that previous performance suggests that price escape could occur.
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According to its action of the prices of Q4 2024, if Solana builds a base around the resistance of the High range, there is a good chance that the price will join. The analyst added that a successful escape from this area could send the soil price at the helm from $ 200 to $ 210.
“Sol simply needs stability here at the high range, because it could telegraph that this is an area that becomes support,” concluded Rekt Capital.
When writing these lines, Solana is negotiated at $ 165, a 3.1% drop in the daily time.
Star image of Unsplash.com, tradingView.com graphic
