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Analysts say SOL is expected to rebound to $200 after forming a bullish chart pattern.
Gate News bot reports that on-chain analyst CryptosRus stated that Solana (SOL) may rebound to 200 dollars after forming a bullish chart pattern.
However, for SOL to reach this goal, it first needs to hold the support level of the descending trend line in this expansion pattern, and then it can look bullish.
The analyst also pointed out that during previous rising trends, SOL often rebounds after forming a flag pattern. The formation of this pattern again indicates that the bulls may push it above the resistance trend line of 190 dollars before it can begin to break through 200 dollars.
At the same time, another analyst named Gerlaenco pointed out that SOL may rebound from the support level of $153 and then rise 100% to $300 within this year.
Source: CoinGape