Solana

Rekt

Spot

<a href="https://www.newsbtc.com/news/solana/solana-headed-to-100/">Solana (SOL)</a> is currently one of the high-flyers in the crypto market. The crypto token recently recorded one of the most gains following the market-wide rebound. <a href="https://bitcoinist.com/bitcoin-price-left-danger-zone/" rel="nofollow">Crypto analyst Rekt Capital</a>, however, suggested that the crypto token is just getting started, revealing key levels to watch as Solana eyes higher prices.&nbsp; 
<h2 id="key-levels-to-watch-for-solana-s-price">Key Levels To Watch For Solana’s Price</h2> 
In an X (formerly Twitter) <a href="https://x.com/rektcapital/status/1815421603389620438" rel="nofollow">post</a>, Rekt Capital highlighted $180 and $202 as key price levels to watch for <a href="https://bitcoinist.com/solana-price-could-skyrocket-bullish-chart-pattern/#:~:text=Solana%20Price%20At%20A%20Glance,in%20the%20past%20seven%20days." rel="nofollow">Solana’s price</a>. The analyst claimed that a successful retest of the $180 price level as new support could continue an upward trend over time for Solana. SOL could rise above $200 in the short term as it moves further to the upside. However, the <a href="https://www.newsbtc.com/analysis/solana-price-sol-climbs-185/">crypto token</a> would need to break the resistance at $202 as it looks to break its all-time high (ATH) of $260.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium wp-image-631326" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-1.png?w=460&amp;resize=460%2C324" alt="Solana 1" width="460" height="324" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-1.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-1.png?w=460&amp;resize=460%2C324 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-1.png?w=120 120w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
Following the recent market-wide rebound, Solana had risen above $180, a three-month high for the crypto token. Although the crypto token has dropped below this price level again, another rise above $180 will help SOL establish that price range as new support and prime it for <a href="https://bitcoinist.com/solana-ethereum-sol-targets-2800/" rel="nofollow">further moves to the upside</a>. As highlighted by <a href="https://www.newsbtc.com/news/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips/">Rekt Capital</a>, the $135 and $122 price levels have already been established as solid support for the crypto token.&nbsp; 
Rekt Capital’s analysis follows crypto analyst Ali Martinez’s <a href="https://bitcoinist.com/solana-price-could-skyrocket-bullish-chart-pattern/#:~:text=Solana%20Price%20At%20A%20Glance,in%20the%20past%20seven%20days." rel="nofollow">recent prediction</a> that Solana could skyrocket and rise to as high as $1,000. Martinez stated that early signs of a breakout from a bull pennant suggest a potential 900% rally ahead for Solana.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium wp-image-631327" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-2.png?w=460&amp;resize=460%2C306" alt="Solana 2" width="460" height="306" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-2.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-2.png?w=460&amp;resize=460%2C306 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<a href="https://bitcoinist.com/33000-move-for-xrp-price/" rel="nofollow">Crypto analyst Javon Marks</a> also offered a bullish prediction for Solana, stating that the crypto token will rise to $233 and then $450. He made this prediction based on SOL’s bullish structure, which he noted also recently confirmed a <a href="https://bitcoinist.com/bitcoin-ethereum-seeing-bullish-divergence-metric/" rel="nofollow">hidden bullish divergence</a>.&nbsp; 
Marks explained that this divergence could send Solana’s price back above $204 and lead to a price rally of over 40% to $233.8 as prices “hold broken out of a much larger resisting structure.” The analyst also suggested that this bullish divergence will cause Solana’s price to rise to $450.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium wp-image-631328" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-3.png?w=460&amp;resize=460%2C280" alt="Solana 3" width="460" height="280" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-3.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana-3.png?w=460&amp;resize=460%2C280 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<h2 id="enough-reasons-to-be-bullish-on-solana">Enough Reasons To Be Bullish On Solana</h2> 
There are enough reasons to be bullish on Solana, especially considering how the crypto token has earned the status of being among the ‘big 3’ alongside <a href="https://bitcoinist.com/bitcoin-ethereum-outperform/#:~:text=Crypto%20analyst%20Crypto%20Kaleo%20has,to%20have%20on%20ETH's%20price." rel="nofollow">Bitcoin and Ethereum</a> in <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">this bull run</a>. Solana’s dominance in this market cycle is one reason market participants anticipate that a Spot Solana ETF will likely be approved next.&nbsp; 
Solana’s price appears to be reacting to such expectations, with fund issuers VanEck and 21Shares filing to offer <a href="https://bitcoinist.com/first-spot-solana-etf-filing-officially-submitted/" rel="nofollow">Spot Solana ETFs</a>. If they eventually launch, these funds could contribute to more parabolic price gains for SOL, considering the <a href="https://bitcoinist.com/morgan-stanley-spot-bitcoin-etf/" rel="nofollow">Spot Bitcoin ETFs’</a> impact on BTC’s price. 
The steady rise in Solana’s total value locked (TVL) also paints a bullish picture for the crypto token. <a href="https://defillama.com/chain/Solana" rel="nofollow">Data</a> from DeFiLlama shows that Solana’s TVL has been rising significantly since the start of the year and has continued to hit new highs. The network’s TVL currently stands at $5.21 billion, the third highest among all chains.&nbsp;&nbsp; 
At the time of writing, Solana is trading at around $173, down over 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/solana/" rel="nofollow">data</a> from CoinMarketCap. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/fzCqWuNg/" alt="Solana price chart from Tradingview.com" width="3286" height="1518">

Road To $200: Crypto Pundit Reveals Key Levels To Watch For The Solana Price

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