Solana (SOL) Bulls Are Back: Here's What to Expect Next

Last week, Sol experienced a serious correction and dipped under $160. Surprisingly, it bounced back after finding support this week and is now

After experiencing a serious correction and dipping under $160 last week, Solana (SOL) experienced a 15% surge on Monday, following a bullish performance since September.

The cryptocurrency experienced a higher high and a higher low formation on the daily timeframe, indicating a bullish trend.

Solana's mid-term outlook is considered highly bullish following another major pump in the last 24 hours. The bulls were back on track and gained dominance at press time.

The pump was triggered by a major bounce off the $155 level on Monday after initiating drops throughout last week. Breaking out of a monthly high, the price hit a high of $188.3 today and cooled off a bit due to a rejection.

Solana is now sitting at $185, looking for hourly support as it retraces from this high. It is expected to resume buying soon, but the $190 level may pose a slight threat before breaking higher. Failure to overcome July’s high may slow down buying.

From a technical standpoint, the negative sentiments have faded. Even if the bears manage to come back, they must retake September’s low before considering a bearish move. More positive actions are expected following the latest positive sentiments surrounding the crypto space.

Solana's Key Level To Watch

Once Sol resumes buying, the next target would be $190 and majorly the $194 resistance level that stopped bullish actions in July. The higher resistance level for a test is $210 before exploding massively to $300.

Aside from the holding $185 level, a lower level considered for pullback is $169, followed by this week’s $155.1 support. Below it lies $141.

Key Resistance Levels: $194, $210, $300

Key Support Levels: $169, $155.1, $141