Crypto experts highlight key factors for Solana’s growth

Cryptocurrency Solana, created by Ukrainian developer Anatoly Yakovenko, is showing signs of recovery after a recent drop to $ 204. Experts believe that SOL has a chance for further growth if it manages to overcome key resistance levels.

It is reported that Solana’s price has recovered above $ 210 and $ 212 after the fall. However, it is currently facing obstacles at $ 220. In addition, the hourly chart of the SOL/USD pair shows a key downward trend line with resistance at this level. According to technical analysis, a breakout above $ 220 could open the way to the next important resistance level at $ 228. A successful closure above this level could lead to a steady rise to $ 250.

It is reported that in case of failure to overcome $ 220, the cryptocurrency may go down again. The nearest support levels are $ 212 and $ 205. If the price falls below $ 200, it could lead to a further drop to $ 188.

At the time of writing, Solana’s price reached $ 229, its market capitalization is $ 109.23 billion, and daily sales reached $ 7.45 billion.

Experts note several factors that contribute to the growth of Solana:

• Technical infrastructure — the platform is considered one of the fastest and most efficient blockchains in the world.
• Popularity among developers — Solana is actively used to create decentralized applications (dApps).
• Restoring investor confidence — after recent corrections, cryptocurrencies have begun to attract the attention of new market participants.

According to analysts, a breakout of key resistance levels and steady growth could bring Solana back to $ 250 and above, which would strengthen its position in the market.