- Solana’s $240 target draws near, with bids in the low $190s and strong support at $194, signaling the potential for another rally.
- Crypto analyst Crypto Chase sees SOL’s bullish momentum steady above $194, setting sights on surpassing its recent high of $215.
- Strong buying in November keeps Solana’s bullish trend intact, with a projected pullback offering potential entry for investors.
Solana (SOL) remains on an upward trajectory, with crypto analyst Crypto Chase projecting further gains toward the $240 level. The current outlook shows bids accumulating in the low $190 range, with the potential for a short-term correction that offers opportunities for both long and short positions. A key support level lies around $194, serving as a critical marker for bullish momentum as the cryptocurrency continues to consolidate its recent gains.
Sideways Movement Leads to Breakout
From late September to early October, SOL moved sideways between $152 and $172 before entering an uptrend on October 7. This upward trend saw SOL's price rise to $196 by October 24, followed by a minor retracement back to $176.
However, as of October 26, SOL resumed its climb, marking steady gains until reaching a local high of approximately $215.03 on November 11. Breaking through the $196 resistance was significant, signaling growing bullish interest that could lead SOL to higher targets.