Solana is preparing for a bullish breakout at $ 250

The well-known crypto analyst Jelle believes that Solana SOL $188.24 Solana 1.85% Market capitalization $88.77 billion VOL. 24 hours $1.01 billion is preparing to break through $ 250. The reason for this is the strong bullish momentum that the native cryptocurrency of Anatoly Yakovenko’s blockchain has recently demonstrated.

Altcoin Sherpa predicts that Solana can reach new heights this year, but situational problems will not escape the crypto asset.

«There will probably be a pullback somewhere around $ 200-$ 250, but I don’t know how deep it will be. In this cycle, I am still very optimistic, it is the best network for retail (as evidenced by meme coins). Probably $ 500 in 2024,» the analyst said.

Another crypto expert, Ali Martinez, noted in his post on the X platform: «A sell signal on the daily chart of Solana has just been canceled, hinting at a bullish outlook for SOL. It broke through the established risk line at $ 198, potentially setting the stage for a new countdown to another sell signal. This breakout is reminiscent of last December, when a similar sell-signal cancellation resulted in SOL breaking through its risk line, triggering a significant 70% rise before the next sell signal.»