Solana (SOL) has reclaimed crucial levels amid its price rally, recording its highest range in months. However, as the market\u2019s recovery takes a pause, the cryptocurrency has hit a key level that could propel or delay its surge to new highs.<\/p>\n
Solana\u2019s price has significantly surged over the past several weeks, recovering from April\u2019s pullback and breaking out of its downtrend. After its January all-time high (ATH), SOL retraced up to 63%, hitting a 14-month low of $95 last month.<\/p>\n
However, Solana climbed above some crucial ranges during the late April market recovery, reclaiming<\/a> the $140 resistance as support for the first time in two months. Since then, the cryptocurrency rallied nearly 30% to the $180 mark, recording a three-month high of $183 last week before retracing to the $170 support.<\/p>\n Crypto Trader Mercury noted<\/a> that Solana reached a \u201cvery HTF infection point,\u201d which could send the cryptocurrency\u2019s price to new ATHs again if reclaimed. However, the market slowdown has stalled SOL\u2019s rally, with its price falling to the $165-$170 range over the weekend.<\/p>\n After its recent performance, the trader added that SOL was rejected from the key inflection point \u201cjust enough to allow for a retest of the same trend that got us here in the first place.\u201d<\/p>\n Based on this, he considers that reclaiming the $180 mark and eventual breakout to news ATHs is on the horizon, \u201cas long as that 4H 200MAs trend holds.\u201d<\/p>\n Meanwhile, analyst Cas Abb\u00e9 pointed out that Solana\u2019s multi-year trend remains intact despite the recent pullbacks. As he explained, the cryptocurrency is over 50% up from its multi-year ascending trendline retest, seemingly marking the bottom for Solana.<\/p>\n The analyst considers that SOL January ATH could not be the top, and another record-breaking rally could come this year. Similarly, trader Coinvo highlighted<\/a> the ascending trendline, \u201cIf SOL continues to hold this trendline, it\u2019s going much higher!\u201d<\/p>\n Over the weekend, analyst Rekt Capital asserted<\/a> that Solana has broken into its Post-Halving Re-Accumulation Range on the monthly timeframe, successfully retesting the $120-$135 range as support over the past couple of months.<\/p>\n This key higher timeframe retest propelled the cryptocurrency to revisit the $165-$175 range\u2019s high. However, he explained that Solana must break above the upper boundary to confirm a breakout and continue ascending, which it failed to do during last week\u2019s close.<\/p>\n SOL also must break and retest the upper boundary<\/a> as a new support with a Weekly Close above this mark to exit the key range. Additionally, the analyst pointed out that previous performance suggests a price breakout could happen.<\/p>\nSOL eyes $200 Breakout<\/h2>\n