Solana (SOL) is demonstrating significant bullish momentum, with market analysts pointing towards a potential breakout above the key resistance level of $206.
The cryptocurrency has rebounded strongly from recent support levels, signaling renewed buyer interest. This upward pressure is being fueled by accumulation activity from both large investors, known as whales, and retail participants, indicating growing confidence in SOL’s near-term prospects.
The $206 level is identified as the next critical hurdle to overcome. Historically, sellers have dominated this price point, creating supply pressure. A breakout above it would suggest a decisive shift in market sentiment.
Supporting the bullish outlook are positive on-chain metrics and favorable technical analysis setups. These indicators collectively point towards the potential for the current upward trend to sustain its trajectory.