The Rebound of Solana to $900 is coming, but this resistance is blocking the way:

Solana is still facing a lot of resistance and it seems that the target of $200 is becoming difficult to achieve. This has been made more challenging by the bearish market winds, as well as a decline in investor participation in online activities. Consequently, the price of Solana is still struggling to stay above $150.
However, as there is a beginning of a shift in market sentiment towards positivity, the price of Solana may be heading for a quick rebound. This is confirmed by cryptocurrency analysts who predicted that the altcoin still has the potential to rise, with one in particular suggesting that achieving new all-time highs is possible.
Why is the price of Solana trending upwards?
Crypto analyst TradingShot explained why Solana prices have recently shifted to an upward trend. In a recent analysis, they clarified that the Rebound at the beginning of April demonstrated strength in the digital asset. This occurred when Solana bounced off the weekly MA200 at the beginning of last month, and this upward momentum continued until the end of the month.
With the momentum that has been built, the altcoin has seen several weekly closes, ending in the last week of April with another green weekly candle. This has put the coin on a path towards the next critical level, which is at the 50-week moving average and follows the blue trend line at around $170, as shown in the chart below.
This level is now the main point that needs to be broken if Solana is to continue its upward trajectory in May. The interesting thing about this level, as explained by the cryptocurrency analyst, is that if the price of SOL can surpass it, it is expected to turn into support for the altcoin. Support at $170 would be very positive for the price of Solana, acting as a potential rebound point towards $200 again.
The goals from here
As mentioned above, the first thing is that the price of Solana must actually test and break the blue trendline at $170. If this is successful and the bottom has been achieved, the next big target from here is the level of $350. The cryptocurrency analyst indicates that the $350 target is the higher peak of the wedge.
After that, a clean break above $350 puts it on a clear path towards $900 where it achieves higher highs. "Since the recent correction that lasted 3 months was -67.23%, which is quite similar to the last correction ( May 2021) from the previous cycle, we expect a final rebound to the Fibonacci extension 2.0 at $900, if the trend line of higher highs is broken," said TradingShot.
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