Solana Surges After Breaking Key Resistance: Analysts Shares SOL’s Upside Target

Solana (SOL) has stormed higher over the past week, gaining over 7% to trade around $104 at the time of writing. The original “Ethereum Killer” has awoken from its bear market slumber in 2023, now up over 398% year-to-date.

The strong upside momentum has crypto traders calling for an extension of the Solana rally, with upside targets at $150 and beyond.

Technical Levels Suggest Further Upside

According to crypto trader Teshkid, Solana looks poised to continue surging after breaking key resistance levels at $98 and $106. With those previous overhead barriers now flipped into support, SOL appears primed to take out the next target at $116.

A break above $116 would then open up a test of $120. Only a breakdown back below the newfound support at $106 would jeopardize the constructive near-term setup.

Fellow trader Bluntz also highlights the bullish SOL Technicals, calling for a march to $150 in sync with the beginning stages of a “W3” Elliott wave pattern. Despite not getting his full desired position size on the latest dip to $90, Bluntz remains highly confident on the Layer 1 smart contract platform.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

With Solana already up multiples from its bear market lows, the rally may seem to have run ahead of itself. However, the technical landscape remains bullish for SOL, and analysts calling for $150 represent targets just below last cycle’s all-time high around $259.

For crypto investors who missed out on buying sub-$100, the path of least resistance for Solana appears to remain higher in the near term. Traders will be watching for SOL to confirm its breakout with a daily close above the initial resistance-turned-support level at $106.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency