Solanato Target Resistance

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Solanato Target Resistance

Solana (Sol) To Target $260

Many analysts believe that Solana (SOL) is all set to move higher and target the $250 - $260 handle once again. They believe that the catalyst behind this upside will be the ETF optimism.

Besides the ETF, another positive development for Solana (SOL) is the Alpenglow upgrade, which has been awaited for quite some time now.

Solana (Sol) Upgrade Is Live

The upgrade includes new technologies such as Votor and Rotor and is already approved by the validators. The upgrade will reduce the finality time while also improving the efficiency of the network.

The charts of Solana (SOL) show that the $210 level will act as a launching ground for potential upside. And if the SEC ends up approving the SOL ETFs, then we can expect a major spike in the Solana (SOL) prices.

For now, Solana (SOL) is near the $200 handle, but the chart shows that an ascending pattern is being formed. Now, that's a bullish structure, which means the next support for the coin is $200.

But if Solana (SOL) can break the $220 resistance, then the next target for the bulls will be $250 and then $260. Meanwhile, the market is very mixed as it digests the new upgrade and the ETF developments.

For now, the ETF is delayed, which shows that the regulatory process is going through a period of uncertainty. However, the upgrade was done successfully, and the results show that the network has improved tremendously.

Right now, Solana (SOL) is in a consolidation phase, but the conditions hint at a possible bullish breakout. So, once the Solana (SOL) breakout is confirmed, it will go towards the target $250 and even $300.

On the way down, the Solana (SOL) price will find support near $210 and then $200. Below these two levels, the strongest support for Solana (SOL) is around $180 - $160.

Going forward, the approval of the Solana (SOL) ETF will be very important for the price to reach new highs.

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