Solana (SOL), one of the leading cryptocurrencies by market cap, has recently shown signs of a potential price recovery after a bearish performance in August.
The asset, which experienced nearly a 10% decline in the past week, has started to regain momentum as it entered September. Solana has risen from a recent low of $124 to above $134 in early trading hours today, showing a 2.7% increase in the last 24 hours, now trading at $132.
Amid this recovery, renowned crypto analyst Javon Marks has recently maintained a bullish outlook on Solana, with a long-standing target of $233.8 for the asset.
Why Is A $233 Target in Sight For Solana?
According to Marks, Solana has shown signs of a continued upward trend, with its price potentially rising to $233.8 and even higher if momentum continues.
The analyst’s projection for SOL reaching this mark and beyond is based on a hidden bullish divergence pattern, which SOL has been trading within for quite a while now.
Marks particularly n
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