Solana (SOL) price has retested the $220 level for the first time since November 2021, fueling speculation of new all-time highs. Multiple timeframe charts support this bullish outlook.
Recent developments, including Robinhood relisting, helped the altcoin break out of a bull flag on the weekly chart—a pattern indicative of potential further rallies. This breakout could lead Solana's price above its current high of $260, with a mid-term target of $320.83.
Technical indicators, like the Bull Bear Power (BBP), suggest positive momentum as bulls maintain prices above key exponential moving averages. If these indicators persist, Solana might continue its upward trajectory.
Additionally, the parabolic Stop and Reverse (SAR) indicator on the daily chart shows a potential continuation of the uptrend, historically marked by double-digit price hikes.
If technical patterns hold, Solana's price could accelerate upwards to $320.83. However, if market conditions change, such as the SAR dots moving above Solana's price, this bullish prediction may be invalidated, potentially resulting in a price drop below $200.
