Solana

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Solana (SOL) is eyeing a dangerous breakthrough since it fell below the $60 support zone on Nov. 20. At the time of writing, Solana is&nbsp;<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">trading</a> at a price of $58.21, up 2.36% in the past 24 hours. The core Solana metrics are bullish and suggest recapturing the $60 price level is imminent in the near term. <img data-entity-type="file" data-entity-uuid="ea02d7ba-ddb9-40d6-8b70-4c04eb5bf64d" src="https://u.today/sites/default/files/inline-images/SOL_7D_graph_coinmarketcap%20%281%29.jpeg"><a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL 7D chart. Source: CoinMarketCap</a>
Since Solana was rejuvenated this year, its price has been on a meteoric rise that saw it push past the psychologically&nbsp;<a href="https://u.today/solana-sol-150-rally-boosted-by-this-surprising-factor-details" rel="noopener noreferrer nofollow">important threshold at $60</a> on Nov. 15. Bears did not allow Solana to form a support above this threshold, and as such, it lost its grip and retraced back to a low of $51.6 on Nov. 22.
The attempt to reclaim $60 has become a key hurdle that SOL bulls have been unable to work their way past in recent times. With the current outlook and resolve as showcased in the 6.64% jump in trading volume to $1,374,937,101, a consistent increase in the trading volume is a sign retail investors are flooding the market. Notably, their presence can help stabilize the price as SOL makes an attempt to reclaim its lost mandate.
<h2 id="solana-sol-price-riding-on-history">Solana (SOL) price riding on history</h2>
While in the immediate term, the $60 price target may seem an ambitious level to breach, it is worth noting that Solana has traded at a level far higher than this in the past. Prior to the FTX collapse of 2022, Solana traded at an all-time high (ATH) of $260. This implies that the ultimate goal is to retest this ATH by first conquering as many immediate price levels as possible.
Solana is&nbsp;<a href="https://u.today/solana-sol-150-rally-boosted-by-this-surprising-factor-details" rel="noopener noreferrer nofollow">no longer tied</a> to the pangs or negative impacts of the FTX implosion, and though the bankrupt exchange continues to sell off the coin in its liquidation spree, Solana has made a&nbsp;<a href="https://u.today/solana-sol-up-11-as-it-breaks-free-from-ftxs-vicious-cycle" rel="noopener noreferrer nofollow">crucial anchor</a> that naturally attracts other liquidity to it.

Solana (SOL) Eyes Dangerous Breakthrough

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