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Despite the turbulence of the market, Solana (SOL) has demonstrated resilience by maintaining key support levels that analysts believe could serve as a launch pad for further profits . The Sol is currently trading at around $204, allowing a solid pricing structure to open its spikes towards $387 over the next few months. But how well is this goal possible?
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Maintaining key support levels
Solana's ability to maintain a critical support zone has been one of the most powerful suits in recent weeks. Sol has shown stable momentum above key levels despite a general market decline. Analysts believe that if Solana can continue to support around $200, the next upward target is well above $300, with $387 likely to emerge as a possible peak.
Now, with market value of over $98 billion, Solana is one of the best performing assets of the past few months. Still a strong upward, Sol has grown nearly 3% over the past 24 hours.
According to cryptocurrency researcher Ali Martinez, Solana is currently testing key support areas at the lower boundary of parallel channels. Such a level of support is extremely important. Because if Sol exceeds that, the trends could be even more integrated and cause a rather serious price pump.
#solana $ sol We are testing the key support level at the lower boundary of this parallel channel. Holding on top of that could bolster the uptrend and replenish the uptrend to $387! pic.twitter.com/ezdpgczkxr
– Ali (@ali_charts) February 8, 2025
Solana's network growth surge
Another factor that has increased excitement in the region is the rapid expansion of Solana's network. Studies show usage is on the rise, claiming it will generate more than 5 million new addresses in a single 24-hour period. As increased demand for tokens is a common result of increased activity on the chain, this surge in user engagement could be a major driver of SoL prices.
If this trend continues, Solana may have advantages over her rivals, thus reinforcing its long-term optimism case.
Nevertheless, some analysts have doubts about the viability of such an explosive development, and advise investors to check the facts on the chain before making a decision.
Can Solana realistically hit $387?
Attaining the $387 level means that Altcoin will register a price promotion of 91% from its current rating. Many factors can get in the way, but some market observers think it's not that difficult to hit a target.
A significant amount of bullish sentiment, massive acceptance of Solana's native currency, network upgrades.
Historically, Altcoin price movements reflect Bitcoin price trends. So for Solana to climb to the $300-$400 level, Bitcoin needs to exceed $105,000.
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The road ahead of Sol Investors
Solana's technical and basic outlook is promising, but like all crypto assets, volatility remains a major factor. While jumps above $387 are possible, traders need to look at market trends, Bitcoin movements and on-chain data to predict the next big move in SoL.
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