The post Solana Dropped Below $200 — Can Bulls Push It Above $300? appeared on BitcoinEthereumNews.com.

Solana (SOL) has been one of the most closely watched cryptocurrencies, but recent market conditions have put pressure on its price. After falling below $200, SOL has rebounded strongly as the market jumped again following Trump’s Mexico deal. While the short-term trends are mixed, Solana’s long-term fundamentals remain strong, keeping its $300 price target within reach as momentum shifts. And with crypto and AI Czar David Sacks scheduled to hold a press conference today on the future of digital assets in America, SOL could be in for a big boost. If Sacks announces further details on an American Digital Asset stockpile that contains SOL, and XRP, the price of SOL and XRP will explode. Sacks is himself, a holder of Solana. Can Solana Recover and Still Target $300? While Solana’s drop below $200 was concerning, its fast recovery was reassuring. For SOL to continue bullish momentum, it must reclaim $212-$220 as support and break through resistance at $250. A sustained push past $280 would then set the stage for a run toward $300 in the coming months. Solana (SOL) could hit $300 if the price rebounds above $200. Source: AhmedMesbah on TradingView A swing failure pattern has emerged, signaling a potential bullish reversal as buyers step in to defend key support levels. The MACD indicator also reflects a decline in selling momentum, which could mean a possible bullish crossover is in the works. The RSI is steady at 61.37, indicating that further gains could be made without reaching overbought status. The price action of SOL continues to be confined within a range, strongly supported at $181 and strongly resistant at $296. A proper close above $250 may accelerate the gains toward the $280-300 region in the upcoming weeks. Conversely, failure to hold above $212 could lead to a retest of…

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Filed under: News - @ February 5, 2025 8:19 am