Daan Crypto Trades (@DaanCrypto) who has more than 380k followers on X, analyzed the price movements of Solana (SOL), noting that it has been consolidating between approximately $115 and $200 for much of 2024.
The analyst emphasized that these levels represent significant support and resistance zones, which have demonstrated strong price reactions.
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Daan believes that if SOL can successfully break through the weekly resistance, it could pave the way for the asset to reach an all-time high (ATH).
The analyst’s chart tells the story further. The $115 level seems to be the main support holding the chart from crashing to as low as $78. Also, the path to $260 after a breakout above the resistance at around $205 seems clear.
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