SOL
Solana To New ATH Before Christmas – Analyst Expects $300 Soon
Solana (SOL) has faced a 23% retrace after hitting new all-time highs at $264, testing the resilience of bullish momentum. Despite this pullback, SOL’s price structure remains strong, with the token holding firmly above a critical demand zone. This consolidation phase indicates the market is gearing up for another potential breakout as bullish sentiment persists.
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Renowned crypto analyst and investor Jelle recently shared a technical analysis on X, expressing optimism about Solana’s future price trajectory. According to Jelle, the retrace is a healthy correction that allows SOL to build the strength needed for another significant rally. He predicts that Solana will reach new all-time highs before Christmas, setting the stage for an exciting close to the year.
With Solana maintaining its position above key levels and investor interest remaining robust, all eyes are on the $264 mark as bulls prepare to push the token into price discovery once again. The coming weeks will be pivotal, with the potential for SOL to reclaim its momentum and deliver significant gains. If the bullish predictions hold true, Solana could solidify its position as one of the standout performers in the crypto market this cycle.
Solana Price Action Signals Strength
Solana (SOL) continues to show bullish momentum, holding strong above $210, a critical support level that previously acted as resistance. This price behavior signals a healthy retrace, allowing the market to reset before another potential move higher. Solana’s ability to maintain this level reinforces the bullish narrative, suggesting that it’s preparing for another upward push.
Top crypto analyst Jelle recently shared his insights on X, expressing confidence in Solana’s price trajectory. Jelle’s technical analysis predicts that SOL will reach new heights before Christmas, highlighting a price target of $300 in the near term. He emphasizes that the current consolidation phase is a positive sign, as it allows for accumulation and builds the momentum necessary for a breakout.
However, despite the optimism, the possibility of a prolonged consolidation phase looms if SOL fails to break its all-time high (ATH). This scenario could lead to a temporary stagnation in price action, with SOL ranging sideways as traders await a clearer market direction. Such a consolidation phase would not necessarily be bearish but could delay the anticipated rally.
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For Solana to meet Jelle’s $300 target, bulls must reclaim and hold levels above the ATH, signaling strength and renewed buyer interest. If successful, Solana is poised to enter price discovery once again, securing its position as a top-performing crypto asset in the current market cycle.
SOL Testing Liquidity Levels
Solana (SOL) is currently trading at $232, showing resilience after successfully holding key demand levels at $210. This critical support has proven vital in maintaining bullish momentum, allowing the price to recover and consolidate above $222. The ability to stay above this mark has strengthened investor confidence, with the focus now shifting to higher targets.
The next key resistance for SOL is $246. Breaking above this level would not only signify a bullish breakout but also position SOL to challenge and surpass its all-time high (ATH) of $264. A confirmed breakout above $246 would signal renewed momentum, potentially driving Solana into uncharted territory and reigniting market excitement.
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However, the bullish scenario depends on SOL’s ability to maintain its upward trajectory. If the price struggles to break above the $246 level in the coming weeks, it risks losing momentum. This could lead to a broader correction, with traders eyeing the $210 demand zone once again as a critical area to watch.
Featured image from Dall-E, chart from TradingView
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Altcoins
Analyst Unveils Catalysts That Could Trigger ‘Crazy Pump’ for Solana, Says SOL Could Become the Hardest Layer-1
A widely followed analyst is leaning bullish on Solana (SOL) over the long term amid an upcoming upgrade.
In a new video, the analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that a proposal to reduce Solana’s inflation rate by around 80% at the end of Epoch 755 heightens Solana’s bullish prospects.
An Epoch is a fixed period during which certain network activities such as governance matters, protocol upgrades, and other related matters are decided and executed.
At the same time, InvestAnswers says the bullish thesis for the sixth-largest crypto asset by market cap is further improved if the U.S. Securities and Exchange Commission (SEC) approves a spot Solana exchange-traded fund (ETF).
“…they’re coming up with this vote to reduce inflation on Solana, which currently is not that bad at all. But that will reduce inflation from about 4.8% down to about 0.86% inflation.
If it passes, if it passes and it’s looking possible that it might… the voting ends at the end of Epoch 755… if this does happen, all of a sudden Solana becomes the hardest layer-one asset.
Remember, Bitcoin inflation is 0.85%. Solana’s, if this passes, will be 0.86%.
And my question is, what happens if a Solana ETF comes? I mean, so much is staked. There’s very little on exchanges. We could see a crazy pump.”
On the reduced staking rewards, the proposal to cut Solana’s inflation rate is likely to have, InvestAnswers says,
“People say, ‘well, if inflation goes down, won’t my staking rewards go down?’ Well, the math of it is your price appreciation will far exceed your staking rewards.
So please think price appreciation – do you want an asset to go from $120 to $240 or do you want an asset to stay at $120 and get 6% or 8% per year. The answer is you want it to double. That will impact price appreciation more.”
Solana is trading at $126 at time of writing.
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Today in crypto, CZ asks Elon Musk to ban automated bots on X, disappointment surrounding the US Strategic Bitcoin Reserve signals unrealistic investor expectations, and according to regulatory experts, Michael Saylor advocated for an aggressive US government approach to Bitcoin accumulation.
CZ asks Elon Musk to get rid of automated bots on X
Binance co-founder Changpeng Zhao (CZ) asked Elon Musk to ban automated bots on X — a problem that the crypto community has grappled with for years now.
“I think X should ban all bots. I only want to interact with humans here — not ‘automated,'” CZ wrote in a March 9 X post.
Automated bots amplify messages by liking or retweeting posts and can even comment on posts, which is often done in a coordinated fashion by an individual or teams running bot farms.
Source: CZ
These automated bots often pose as crypto influencers or executives from the digital asset industry to peddle fake tokens, fraudulent airdrop scams, and promote phishing links designed to steal funds from unsuspecting users.
A 2023 study from the Network Contagion Research Institute also found that coordinated bot attacks were used to manipulate crypto prices.
Bitcoin reserve backlash signals unrealistic industry expectations
The widespread disappointment surrounding the US Strategic Bitcoin Reserve — hailed as a historic step for Bitcoin adoption — suggests unrealistic investor expectations, according to regulatory experts.
President Donald Trump signed an executive order on March 7, which will utilize Bitcoin (BTC) seized in government criminal cases rather than purchasing the asset directly from the market. The announcement triggered a more than 6% drop in Bitcoin’s price, falling from $90,400 to $84,979, according to Cointelegraph Markets Pro data.
The reaction signals unrealistic industry expectations, according to Anastasija Plotnikova, co-founder and CEO of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.
BTC/USD, 1-month chart. Source: Cointelegraph
“It was very clear that the US government could utilize the existing BTC in their possession, aka seized funds,” she told Cointelegraph, adding:
“It is bizarre to see such a big public disappointment coming from some industry players. […] Not that long ago, even the idea of BTC Reserve held and supported by a federal government was a revolutionary idea, and now we see a very solid implementation.”
The Bitcoin reserve is a “cautious” approach with taxpayer funds, which “make this decision well aligned with the messaging from this administration,” added the regulatory expert.
Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply
Strategy founder Michael Saylor has proposed that the United States government aims to acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.
“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.
He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually, and serve as a “perpetual source of prosperity” for Americans.
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana has faced intense selling pressure and price swings, with the asset losing over 57% of its value since January 13. Bulls have struggled to regain momentum, and market sentiment suggests that the crypto market is not in a healthy condition for a strong recovery. As uncertainty continues, investors remain cautious, watching for signals of a potential trend shift. However, despite the bearish outlook, some analysts believe that this correction could be nearing its end. Many are now looking for key technical confirmations that could indicate a reversal or breakout in the near future. A top crypto analyst, Ali Martinez, shared a technical analysis on X, revealing that Solana remains in consolidation within a wide range pattern. This type of formation often suggests increasing volatility before a potential breakout to higher prices. If SOL follows the historical behavior of this pattern, it could be positioning for a significant move upward once market conditions stabilize. With Solana hovering near crucial price levels, the coming days will be key in determining whether bulls can reclaim control or if further downside awaits. Traders are now watching for a decisive breakout or another leg down before making their next move. Solana is struggling to hold the $140 support level after failing to reclaim higher price levels, keeping sentiment bearish as price action continues in a downtrend. Analysts remain cautious, warning that SOL could see further declines unless bulls regain control and establish stronger momentum. The past few weeks have been marked by unpredictable events, adding to the market’s uncertainty. The ongoing trade war developments between the United States, Mexico, Canada, and China have put additional pressure on financial markets, including crypto assets like Solana. Meanwhile, President Trump’s executive order to establish a Strategic Bitcoin Reserve had an underwhelming effect on the market, failing to generate the bullish reaction many investors had hoped for. Despite these challenges, some technical indicators suggest that Solana may be gearing up for a significant move. Martinez’s analysis highlights that SOL remains in consolidation within a right-angled ascending broadening pattern. Historically, this formation has led to high volatility and a breakout in either direction, hinting that a major price move could be coming soon. If Solana breaks below $140, it could trigger a deeper correction, further reinforcing the bearish trend. However, if bulls manage to push SOL above key resistance levels, it could reverse the downtrend and set the stage for a strong recovery rally. For now, traders are closely monitoring SOL’s price action, waiting for a decisive move that could determine its next major trend. The coming days will be crucial in assessing whether Solana can stabilize and rebound or face further downside pressure. Solana is currently trading at $139 after failing to reclaim the 200-day Moving Average (MA) and Exponential Moving Average (EMA), which sit around the $184-$186 resistance zone. The inability to break above these critical levels has left bulls in trouble, as SOL struggles to hold the $140 support and now risks setting fresh lows below $125. The bearish momentum has kept SOL under pressure, with price action confirming a continued downtrend. If sellers gain more control and $140 fails to hold, a breakdown below $125 could trigger further downside, forcing SOL into lower demand zones. However, despite the current weakness, there’s still a chance for recovery. If bulls can push SOL back above $180, reclaiming this critical level could shift market sentiment and trigger a strong recovery move. A decisive breakout above this zone would invalidate the bearish outlook, signaling a potential push toward higher resistance levels. For now, traders are watching closely to see whether Solana can hold its key support or if another leg down is inevitable. The next few days will be crucial in determining whether SOL can stabilize or face deeper losses in the short term. Featured image from Dall-E, chart from TradingView Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025 Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist Aptos Leverages Chainlink To Enhance Scalability and Data Access Bitcoin Could Rally to $80,000 on the Eve of US Elections Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals Crypto’s Big Trump Gamble Is Risky Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
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