Solana starts the year strong with a 12% surge, reaching $210, boosting investor optimism. This rally reflects positive market sentiment and raises questions about a potential large-scale rally for the blockchain.
Analyst Jelle notes a key development in Solana's price action on X. The cryptocurrency has broken its daily downtrend, a bullish signal indicating potential extended upward movement. The $210 mark is crucial; turning it into support could enable a sustained rally, keeping investors focused on Solana's ability.
Solana rises with market momentum, holding demand above $180. Seen as resilient, Jelle's analysis on X outlines bullish developments: breaking from a downtrend, reclaiming monthly and weekly support, and trading above its 50-day EMA. These suggest a major move is pending.
Solana's daily chart shows strength, rebounding from $175 to a supply zone at $210. Bulls aim for $230; reclaiming it could trigger aggressive rallies and new highs. Technical indicators and momentum make this likely if the broader market remains supportive. Failure to hit $230 may lead to consolidation, possibly creating a stronger breakout base.
