Will Solana Reach $350? Experts Offer Insights on Breakout Potential

Solana (SOL) price has witnessed a remarkable surge, surpassing its previous support of $185 and reaching the crucial resistance level of around $200. Technical analysts are optimistic about a potential breakout and predict a rise to $350 if Solana breaks past this threshold. 20% gains over three days have seen the crypto market attention focus on Solana, with investors looking for price movement beyond the $200 mark. The recent surge aligns with previous resistance levels, indicating a significant shift in momentum. 80% of SOL’s trading volume has been observed in the futures market, highlighting heightened activity and confidence among traders. This potential breakout signals a bullish outlook, with analysts suggesting a target price level of $350 if Solana breaches the $200 resistance. Technical analysis provides valuable insights through cup-and-handle patterns, which suggest a clear upward movement following a period of consolidation. The key break point lies near $200, aligning with the potential trajectory for Solana’s growth. If this threshold is crossed, it could fuel further price surges and reach an even higher level than $350 in the long term. Conversely, if the price stays below $200, a correction back to the previous support of $185 might be observed before renewed buying momentum. The current market sentiment remains bullish, with traders showing increased optimism and long positions exceeding 69.74% on the Binance exchange. If Solana manages to break through the resistance level of $200, this could signal a significant shift in the crypto market’s structure. Key levels such as $185 and $350 remain critical for investors and traders alike.