How much will SOL prices rise this year?

Amid the market’s strength, Solana, the fifth-largest altcoin, is on the rise as it aims to hit a new 52-week high. SOL price has shown a bullish reversal at the important level of $80, creating a strong upward trend with the winds of market recovery.

As altcoins anticipate a healthy recovery above the psychological $100 level, the market is wondering how high Solana will go. To find the answers to these questions, check out our SOL price prediction, which shows a strong upward trend reaching the $200 level soon.

Can Solana price break above $125?

Source – TradingView

With a rounding reversal, SOL price is heading towards the $125 level, which is an important resistance on the Solana chart. $125, which provides resistance to the last uptrend, is close to the 50% Fibonacci level and represents an area of ​​increased supply.

Additionally, on the weekly chart, the volume indicator is showing a decreasing trend warning of a reversal at $125. This can result in a double top pattern.

SOL price is currently trading at $113.77 and is up 20% in the last 10 days, pointing to a bullish breakout of $125.

Technical indicators:

MACD indicator: Despite the bullish recovery over the past few weeks, a brief bearish phase warns of a bearish crossover in the MACD indicator. The MACD and signal line are preparing for a crossover, so a break above $125 could avoid the crossover.

Will SOL prices rush back to $200?

After the expected $125 breakout, Solana’s path to $200 looks much easier than before. However, the high supply variable of $125 presents a strong bastion for buyers to conquer.

Therefore, side traders can wait to find an entry point if the SOL price exceeds $125. The downside is that a reversal in altcoin prices could lead to a retest of $100.