Solana (SOL) Breaks Key Resistance, Analysts Predict $250 Price Target Amid Bullish Momentum

Solana (SOL) has demonstrated a strong resurgence in its bullish momentum, experiencing a rebound of over 9% in the past 24 hours, outperforming many of the top 10 largest cryptocurrencies by market capitalization. With its latest surge, SOL has broken through a key resistance level on the daily chart at $184, with $201 standing as the final barrier to further gains. Analysts suggest a positive outlook for SOL, with predictions indicating a potential continuation towards its previous all-time high of $259, achieved during the bullish market run in November 2021. Analysts like "Jelle" and "Mikybull" anticipate SOL's price to potentially exceed $250 by the summer, citing successful transformation of resistance into support and consolidation within a symmetrical triangle pattern, respectively. Supporting SOL's bullish momentum, trading volume has surged by 74.20% in the last 24 hours, as per CoinGecko data. Furthermore, Solana's key metrics demonstrate growing investor interest, with increases in market capitalization, transaction fees, and revenue over the past 30 days, showcasing the blockchain's adoption and network usage.