The start of 2024 saw Solana in a nearly touching its all-time high of $259 in March. However this was followed by a price reversal with SOL testing the $120 level multiple times. The price faced rejection four times after hitting the support zone but recovered sharply since the last support test on July 5th.
A few days ago Solana broke out of a bullish pattern and is now trading towards the $200 mark. This move has been noted by top markett analysts with some drawing parallels to Solana historic bull run back in 2021.
SOL Technical Analysis
The daily RSI for Solana currently stands at 65 indicating strong bullish momentum. This suggests that buyers are in control and the asset may have more room to grow.
