With previous price achievements, Solana (SUN) has become one of the biggest cryptocurrencies on the market, attracting the attention of investors and traders as its price continues to rise, reaching a new yearly high of $172.
Solana (SOL) breaks all critical levels
Solana has effectively reached a new 25-month high, reflecting strong positive interest from crypto investors in the sector. Due to this, several market experts are predicting that the crypto asset reaching a new all-time high is on the horizon.
Crypto Jelle, a cryptocurrency trader and analyst shared his insights into Solana’s latest rally on X (formerly Twitter), while also noting the importance of the development.
The crypto analyst pointed out that “SOL has surpassed all significant levels that prevented it from reaching new highs.” This suggests that the digital asset could reach a new peak in the near term as there are only minor resistance levels ahead.
![Solana Destroys Key Resistance Levels, New All-Time High Imminent? 1 Solana](https://thegurumedia.com/wp-content/uploads/2024/03/Crypto-Jelle-Solana-Chart.jpg)
Jelle is bullish on Solana, stating that he has been able to “easily hold SOL since it was at $20.” Furthermore, he mentioned that he has “no plans to sell” his stake in SOL anytime soon, demonstrating his belief in the currency’s rise.
As Solana continues to rise, Jelle is confident the asset will attracts many new retailers or investors. Additionally, purchasing SOL serves as an entry point to position themselves for future gains.
The post said:
SOL broke all key levels, preventing new all-time highs. I’ve been holding this one comfortably since $20 and don’t plan on selling it anytime soon. The new retail will migrate to Solana tokens, and buying SOL is your ticket of entry.
According to Crypto Jelle, SOL is one of the largest assets in its crypto portfolio alongside Injective (INJ). gelatin asserted that both crypto assets are currently moving on an upward trajectory, signaling the start of their bull run.
Furthermore, it states that SOL and INJ have regained first place as “altcoin market leaders”. Consequently, all other altcoins will “follow suit” in this bull cycle.
$208 resistance level may be revisited
Rekt Capital, a crypto expert pointed Solana’s potential to revisit $208 resistance in the near term. At first, he highlighted that SOL demonstrates strength similar to that of the 2021 bull cycle.
Since the digital asset left the green zone, it has increased by more than 118%. It has also increased by more than 53% since breaking out of the Ascending Triangle.
Because of this, he believes that the “$208 resistance level may be retested” in the coming months. Until here, SUN rose more than 23% last week, indicating an increase in buying pressure in the crypto market.
Featured image from Shutterstock, chart from Tradingview.com
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