Crypto market analysts name conditions for Solana’s bull rally

Solana SOL $104.04 Solana -1.88% Market capitalization $60.98 billion VOL. 24 hours $0.24 billion is showing a strong «V-shaped» recovery after the fall, reaching support at $ 179.66, which corresponds to the 61.8% Fibonacci level. This key level has contributed to stabilization and opens up the potential for growth to $ 254.35, $ 302.02, and $ 345.76, according to technical indicators.

Indicators such as the MVRV ratio and RSI also signal the possibility of growth. Currently, Solana remains in a neutral-bullish zone, which allows new investors to enter the market. Analysts predict further upward movement if the positive market sentiment continues.

However, investors should be cautious, as a sharp rise in MVRV could trigger sales. If Solana holds the level of $ 179.66, it will support the prospects for growth to new targets.

According to the CoinMarketCap analytical tracker, at the time of writing, the native cryptocurrency of Anatoly Yakovenko’s blockchain is trading at $ 182, a daily regression of more than 2.1%. The total number of coins circulating on the market amounted to $ 88.3 billion, and traders made daily trading deals worth $ 2.15 billion.