Solana is among the tokens that have maintained the trend for the long term, which has kept the bullish possibility alive. The price, which faced the wrath of the FTX fiasco, has recovered and climbed very close to its all-time high. Regardless of the bearish actions, the SOL price has shown a strong uptrend and as a result, the bulls could push the levels by over 25% in the coming days.
SOL bulls are facing a significant loss of strength as levels remain stuck below $150 since the beginning of the month. Despite the bearish pressure, the token has held crucial support, which could push prices higher in the coming days. Technicals remain neutral as it tries to get out of the bearish clouds, but the trend has undergone a shift. As a result, SOL price seems capable of reclaiming $160 anytime from now on.
The historical price pattern suggests that the token has undergone a major change in the long term. Previously, the SOL price had risen to an all-time high and gave up all its gains in the bear market that followed the 2021 bull run. However, the current trend remains a bullish influence as it has held the lower support well. Also, the weekly volume remains bullish, which has fueled the possibility of a recovery from the current support.
Meanwhile, the DMI or Directional Movement Index is used to determine the direction of the upcoming trend undergoing a parabolic recovery. This indicates that the trend has turned from bearish to bullish and hence the price is ready to hit the overhead resistance. Therefore, Solana price (SOL) could spark a recovery and sustain a 30% increase in the next few weeks, which could push the levels above $180 very soon. With this, reaching $200 should not be an arduous task, but marking new highs could be a challenge.
