Solana Forms Post-Breakout Higher Low: Can SOL Hit $200 This Week?

Vignesh Karunanidhi
Solana Forms Post-Breakout Higher Low: Can SOL Hit $200 This Week?
Source: Solana

According to a recent tweet by analyst Jelle, Solana is closely following the Feb-March playbook, suggesting that the price is expected to find a bottom before the next leg higher.

According to Jelle’s analysis, the formation of a post-breakout higher low is considered a bullish signal. This highlights that the price may have found a temporary bottom and is poised for further upward movement.

The analyst’s reference to the Feb-March playbook suggests that Solana’s current price action is mirroring a previous pattern observed earlier this year. This similarity has led Jelle to predict that SOL is on the verge of another price surge.

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Expert Price Forecasts for Solana This Week

Cryptocurrency experts at Changelly have also weighed in on Solana’s potential price trajectory for the current week. According to their analysis, the minimum trading cost for SOL might be $157.57, while the maximum could reach $180.05. On average, the experts expect the value of Solana to be around $168.81 during this period.

These price forecasts suggest that Solana is well-positioned for a strong performance this week. SOL also has the potential to test key resistance levels and attract increased investor interest.

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The Path to $200: Can Solana Reach the Milestone This Week?

With the formation of a post-breakout higher low and the bullish predictions from analysts and experts, many investors are now wondering if Solana can reach the milestone of $200 this week. While the cryptocurrency market is known for its volatility and unpredictability, the current market sentiment and technical indicators suggest that SOL has the potential to make a strong push towards this target.

If Solana manages to break through key resistance levels, a rally towards $200 becomes increasingly likely.