#Solana (SOL) Breaks Key Resistance, Analyst Expects $250 Price Target

Solana (SOL) has rebounded over 9% in the previous 24 hours. This performance outperformed the top 10 cryptocurrencies in market capitalization.

#SOL broke its daily chart resistance barrier at $184 with its recent rally. The ultimate barrier to bitcoin profits is $201.

However, industry professionals and crypto analysts believe SOL's price behavior may continue reaching its November 2021 bullish run all-time high of $259.

SOL Price Should Breakout To All-Time Highs
“Jelle,” an expert, notes that SOL turned the previous major resistance level into support, indicating a bright future for the coin. The analyst expects SOL to increase further and hit $250 by summer.

Mikybull, another analyst, notes that SOL is consolidating in a daily symmetrical triangle pattern.

Price of Solana (SOL) is in a triangular pattern. From Mikybull on X

The analyst expects a “explosive” price surge to hit its previous all-time high of $255 if this pattern breaks.

Solana Metrics Show Investor Interest Growing
Solana's major KPIs show investor acceptance of its blockchain, according to Token Terminal. Fully diluted market capitalization is $99.32 billion. If all tokens were in circulation, this is the market value. Fully diluted market capitalization rose 70.0% in 30 days.

The circulating market valuation, which only includes tokens in circulation, is $77.05 billion. It grew 71.3% in 30 days.

Solana transaction fees total $51.46 million over 30 days. This 220.7% rise in 30 days indicates increasing network use and demand. Annual fees total $626.15 million.

Revenue has increased for Solana. Over the preceding month, 30-day revenue rose 220.7% to $25.73 million. The Solana network generates $313.08 million annually, demonstrating its sustainability.

Whether these indicators and bullish momentum will keep SOL at its all-time highs is unknown.