bullish

Solana

Momentum

Resistance

Rise

<p>Crypto analyst Jelle shared insights pointing to a <a href="https://captainaltcoin.com/why-is-solana-sol-price-gaining-momentum-key-insights-explored/" target="_blank" rel="noopener noreferrer nofollow">bullish trajectory for Solana (SOL)</a>, suggesting it could surge beyond $200. According to Jelle’s analysis, Solana has broken out from a long-term downward trendline.&nbsp;</p>
<p>Moreover, this move signals a shift in momentum. The analyst highlights Solana’s price movements as it hovers above $185.34, approaching critical resistance levels.</p>
<h2 class="wp-block-heading" id="strong-breakout-signals-a-potential-trend-reversal-strong"><strong>Breakout Signals a Potential Trend Reversal</strong></h2>
<p>Solana’s daily chart on highlights a pivotal breakout above a descending trendline that has constrained its price movements throughout most of 2024.&nbsp;</p>
<p>Jelle analysis shows how the breakout above this trendline reflects a potential reversal from a bearish to bullish trend. With Solana now trading around $185.34, the breakout suggests renewed buyer confidence, which may sustain further price gains.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> breaking out to new highs.<br><br>Bring on $200+ <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/rsJesECYOX" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/rsJesECYOX</a></p>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1854113887420821792?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 6, 2024</a>
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<p>The downward trendline acted as a barrier across multiple failed attempts to break higher, but the recent move indicates a stronger conviction among buyers. As Solana consolidates near this breakout point, bullish sentiment is driving up demand, supporting the likelihood of continued upward momentum.</p>
<h2 class="wp-block-heading" id="strong-key-support-and-resistance-levels-in-focus-strong"><strong>Key Support and Resistance Levels in Focus</strong></h2>
<p>The chart accompanying Jelle’s tweet identifies significant support and resistance zones that could influence Solana’s next price moves.&nbsp;</p>
<p>Key support is observed between $140 and $158, an area where buying activity has historically been strong, especially during the downtrend. This zone served as a foundation for the recent breakout, with Solana’s price swiftly advancing to new levels.</p>
<p>On the upside, Solana faces resistance in the $185 to $200 range, with $200 highlighted as the next psychological target. Breaking above this level could set the stage for further gains, as $200 serves as both a technical resistance and a focal point for market sentiment, driven <a href="https://www.fxstreet.com/cryptocurrencies/news/solana-jumps-17-flips-bnb-chain-token-as-trumps-lead-renews-etf-hopes-202411061046" target="_blank" rel="noopener noreferrer nofollow">by optimistic forecasts</a>.</p>
<h2 class="wp-block-heading" id="strong-bullish-momentum-builds-as-sol-targets-200-strong"><strong>Bullish Momentum Builds as SOL Targets $200+</strong></h2>
<p>The breakout above the trendline and subsequent price action at $185.34 demonstrate increasing momentum for Solana. The chart analysis reveals bullish signals, with buyers showing strong interest in the current levels, aligning with Jelle’s forecast of a push toward $200 and beyond.</p>
<p>Jelle’s tweet captures this sentiment, indicating that the latest breakout may be the start of a more sustained upward trend. As Solana eyes $200, the bullish momentum could attract additional traders, aiming to capitalize on the growing market demand.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/cardano-ada-price-to-spike-50-if-this-key-resistance-breaks/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Cardano (ADA) Price to Spike 50% If This Key Resistance Breaks</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-market-data-confirms-solana-s-uptrend-strong"><strong>Market Data Confirms Solana’s Uptrend</strong></h2>
<p>Supporting this optimistic outlook, CoinGecko reports <a href="https://www.coingecko.com/en/coins/solana" target="_blank" rel="noopener noreferrer nofollow">Solana’s price at $188.11</a> with a 24-hour trading volume of $11.57 billion. This recent activity marks a 12.96% gain in the last day and a 6.43% increase over the past week.</p>
<p>The trading volume reflects heightened interest among buyers, reinforcing Jelle’s forecast as Solana nears the critical $200 mark.</p>
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<p>The post <a href="https://captainaltcoin.com/expert-forecasts-solana-sol-price-rise-to-new-highs-eyes-surge-beyond-200/" rel="noopener noreferrer nofollow">Expert Forecasts Solana (SOL) Price Rise to New Highs, Eyes Surge Beyond $200</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Expert Forecasts Solana (SOL) Price Rise to New Highs, Eyes Surge Beyond $200

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