Solana is trading at $236.06, nearing a critical resistance level of $239 after an 8% weekly gain. The cryptocurrency's rise is supported by a $7.7 billion trading volume, with URPD data showing over 23 million SOL last moved near this resistance zone. Despite bullish patterns indicating potential growth to $250 and beyond, selling by long-term holders introduces caution.
The accumulation zone between $144 and $203 offers strong support, while a breakout from a multi-year symmetrical triangle has initiated a new uptrend for Solana. Analysts suggest a possible extension to $320, though selling pressure could prompt corrections. Current support is at $232, with potential retests of $242 and $250 if buying pressure persists.
Solana Approaches Key $239 Resistance Amid Bullish Momentum
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