Crypto analyst JAVONMARKS predicts a potential 93% price surge for Solana (SOL), once it breaks through a key resistance level.
The analyst shared his technical analysis via X, outlining key price levels and market structure for the smart contract platform’s native token. SOL trades at $217.80, marking a 2.12% gain over 24 hours and a 7.75% increase across the past week, according to CoinGecko data.
The token maintains steady momentum through a pattern of higher highs and higher lows. Trading volume stands at $7.4 billion, suggesting active market participation.
The price action shows consolidation below the $233.80 mark, with market watchers noting accumulation patterns. Support levels between $190 and $200 provide a safety net for buyers, while stronger support exists in the $150-$170 range.
SOL Market Structure Analysis
The break above a descending trendline marks the end of SOL’s previous bear market phase. This technical breakthrough strengthens the case for continued upward movement. The token’s price structure exhibits consolidation near resistance, often a precursor to directional moves.
Volume patterns support the current price action, though traders watch for increased activity to confirm any breakout scenarios. The $233.80 level serves as a key threshold, with successful breaks typically requiring strong buying pressure.
Read also: Why Is Algorand (ALGO) Price Up? Analyst Predicts a 300% Rally
Price Targets and Trading Zones
JAVONMARKS maps out clear price objectives in his analysis. The immediate focus sits at $233.80, followed by the ambitious $457.97 target. These levels align with technical indicators and historical price points on the chart.
The token’s support zone between $190-$200 acts as a buffer against selloffs. Market participants monitor these levels for potential entry points or position management. The broader market structure suggests contained downside risk above the $150 mark, barring major market shifts.
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