- Solana breaks $200 as Bitcoin’s rally ignites massive crypto surge.
- Traders eye $280 target after Solana’s bullish breakout gains strength.
- Market optimism grows as Solana volume jumps nearly 90 percent higher.
Solana has burst back into the spotlight after a powerful 6% rally pushed its price above $200, igniting excitement across the crypto market. The surge came as Bitcoin climbed to an impressive $115,000, fueling a widespread altcoin rally and restoring bullish sentiment among traders.
As a result, Solana’s market capitalization now stands at $112.54 billion, with daily trading volume soaring nearly 90 percent, signaling renewed investor confidence.
Besides market momentum, a wave of short liquidations worth $195 million across altcoins helped drive Solana’s explosive move. According to reports, the liquidation frenzy unfolded as Bitcoin’s advance forced bearish traders to exit their positions.
Additionally, optimism around Solana grew after its co-founder, Anatoly Yakovenko, openly challenged Ethereum’s layer-two security models, sparking discussions that further boosted interest in SOL.
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Strong Technical Indicators Reinforce Solana’s Uptrend
Solana’s latest move above $200 came with strong technical confirmation. The asset decisively reclaimed key levels, closing above its 30-day simple moving average at $204.37 and its long-term 200-day average at $177.33. These breakouts reflect a clear shift in momentum as buyers regain dominance.
Furthermore, Solana’s price climbed past the crucial $197.6 zone and the 50 percent Fibonacci retracement level at $205.42. The MACD histogram has flipped positive at 1.3, signaling growing bullish momentum. Meanwhile, the relative strength index sits at 59.31, indicating there is still space for further gains before reaching overbought conditions.
Source: Tradingview
SOL is now forming new support between $193.61 and $204.88, while resistance is seen near $222.2. Analysts say maintaining closes above $205.42 would confirm the rally’s strength and potentially open paths toward $211.78 and $222.27.
Analyst Predicts Higher Targets if Momentum Holds
BitBull, a prominent market analyst, noted that Solana continues to hold its three-year support trendline. According to him, a weekly close above $280 could signal the start of a massive rally, potentially driving prices toward the $400–$500 range in this market cycle.
Solana’s sharp move beyond $200 highlights the growing enthusiasm surrounding major altcoins amid Bitcoin’s dominance. With technical indicators pointing higher and sentiment turning positive, Solana appears well-positioned to extend its rally if momentum holds steady above critical resistance levels.
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