Solana Aiming to Break Crucial Levels: Can It Reach $50?

• Solana’s price has risen significantly in the past few hours, allowing the price to mark new yearly highs at $32.13.
• The bears have continued to restrict the price below $25 since the start of 2023.
• The SOL price is now attempting to clear a crucial resistance at $30.87, which could validate a clear breakout from bearish captivity and pave the way for a notable upswing ahead.

Solana is Trying to Break Some Crucial Levels

Solana’s price has risen magnificently in the past few hours, enabling the price to mark new yearly highs at $32.13. Unfortunately, the collapse of the FTX exchange impacted Solana drastically, causing its price to drop from $142 in April 2022 to as low as $8 by the end of that year. Despite this setback, however, Solana’s rally managed to handle market turbulence caused by the fallout of Terra ecosystem well and remain among some of strongest altcoins during this period.

Bearish Pattern Keeping Price Below $25

Since January 2023 however, these bears have been able to keep prices from breaking beyond certain levels and staying above a range of between $10-$12 dollars. This has prevented any notable upswings even with recent events like major industry players filing for a spot Bitcoin ETF proving bullish for other coins and tokens but not enough for Solana’s case so far. As such, it will be important for traders and investors alike to watch if Solana can break out from its current bearish pattern holding back prices below $25 before major gains can be expected again .

Can It Break Out Beyond $30?

Presently, there is an attempt underway by bulls trying hard to break through key levels at around Resistance 30 (with minor S/R trendline also acting as resistance) which may trigger further upwards momentum and push prices beyond their newly established highs towards milestone levels like those seen during April 2022 when prices hit around 142$.

What Will Trigger A Bull Run?

In order for any bull run or significant upswing in SOL prices though one must look out for signs that indicate that bears are losing control over this cryptocurrency with a definitive break above 30$ being key amongst them all before any more bullish action can take place over longer periods of time as opposed to short term volatility spikes often witnessed within crypto markets .


Overall then it appears that SOL is trying hard presently towards breaking out from some crucial levels with some possible positive implications on its value should it succeed in doing so over coming weeks or months with potential targets including 50$ should bulls maintain control after breaking through Resistance 30$.