The outlook on the Solana (SOL) price remains positive as the uptrend remains intact despite pullbacks on low timeframe. In this analysis, we are going to take analyze SOL crypto on a high timeframe to determine where it might head from here.
On a yearly timeframe, Solana has outperformed almost all the major digital assets with a 534% surge since the start of 2023. This phenomenal price action comes after a 94% drop in its market value last year due to the collapse of FTX.
With the latest surge, SOL has also surprised the analysts who overwrote their investments due to the FTX saga. This was due to strong ties between Solana and FTX/Alameda Research.
The next major resistance on the Solana price chart lies around $75, which is almost 20% above current prices. While there is a strong possibility of a retest of this level, the recent low of $60 must be considered an invalidation of this bullish outlook.
