Solana is showing resilience by trading above key demand levels despite market uncertainty. Analysts are watching for a potential breakout from a daily downtrend that began in November, which could signal a massive rally.
Analyst Jelle notes the altcoin's strength as it reclaims weekly and monthly support levels, indicating bullish momentum. If Solana breaks the downtrend line, a rally toward new highs is expected.
Currently trading at $214, SOL is testing the 4-hour 200 moving average. A decisive move above $230 could lead to further gains, reshaping Solana's market position. However, failing to rise above $220 risks deeper corrections. The coming days are crucial for its price trajectory.
