Solana may reach a one-month high in the near future

According to analytical data, the price of Solana SOL $256.60 Solana -0.04% Market capitalization $121.8 billion VOL. 24 hours $1.32 billion is on the verge of a possible breakout to the upside, which could lead to new monthly highs. Traders and investors are closely watching the developments, hoping for further growth in the value of this crypto asset.

Solana has shown steady growth, and technical analysis indicates the formation of patterns that support a positive outlook. Important resistance levels for SOL are around $ 160 and $ 165. A breakout of these levels could open the way for further growth to new heights.

Analysts are paying attention to key supports at $ 150 and $ 145. Maintaining these levels is important for the price to continue to rise. It is also important to keep an eye on the general mood in the cryptocurrency market, which may affect further developments.

In the short term, a lot will depend on Solana’s ability to stay above these support levels and overcome resistance levels. If this happens, the crypto market will see a further increase in the value of Anatoliy Yakovenko’s native blockchain token, which will confirm the bullish trend and provide investors with new profit opportunities.

According to the CoinMarketCap analytical tracker, at the time of writing, on July 21, SOL is trading at $ 171, which is 1.65% higher than yesterday. The total number of coins circulating on the market is $ 79.7 billion, and traders have made daily trading deals worth $ 1.9 billion.