Prominent crypto analyst Jelle claims that Solana (SOL) has performed remarkably well recently in the crypto market, turning a significant resistance level into support. The digital asset is now on track for what may be a record-breaking summer. It has been in the spotlight for its quick transaction times and inexpensive costs.
Jelle’s most recent analysis, which includes a thorough chart, indicates that Solana has effectively converted its final important resistance level before hitting new all-time highs into a support level. This pivotal point is a significant sign of the optimistic feeling around the asset; according to Jelle, this trend will continue and SOL will surpass $250 before the summer.
https://x.com/CryptoJelleNL/status/1772177923388198984?s=20
Solana eyeing new all-time high
Jelle presented a chart that shows Solana’s strong rising track, including a notable comeback and ongoing upward momentum. The most recent breakout indicates a possible change in investor attitude and market dynamics following a period of consolidation and negative tendencies. The asset is presently trading at about $190.24, which puts it within striking distance of the all-time high marker, which was achieved at about $259.90.
SOL has increased significantly over the previous 24 hours—by 9.22%—and impressively over the past month—by 85.53%. These gains suggest a strong rebound and rising investor confidence. This upward trend is also reflected in Solana’s trading volume, which has increased by 48.23% over the last day to $3,389,882,302.
Due to Solana’s durability and inventiveness in the creation of its ecosystem, investors and market experts are keeping a careful eye on the cryptocurrency’s success. In addition to being a technical first, the shift from resistance to support strengthens Solana’s standing as a serious competitor in the cryptocurrency market.
With the crypto market still reeling from this big rise, all eyes will be on Solana as it gets closer to its past all-time highs. For this emerging digital asset, reaching Jelle’s $250 objective by summer seems doable given the support of strong fundamentals and growing usage.
