Market watchers have praised the Solana (SOL) price action throughout the month. The fifth-largest cryptocurrency by market capitalization has displayed a strong performance despite the market shakeouts, recently reclaiming the $160 support level. Analysts suggest that SOL might repeat history and kickstart a rally toward a new all-time high (ATH) soon.
Solana Breaks Out Of Consolidation Range
In August, Solana’s strength was tested during the market retraces. Several analysts deemed SOL one of the strongest assets this month, noting its performance in the last three weeks.
SOL’s price dropped over 30% during the first crash, falling to $110 before recovering. A week later, the token saw another retrace back to the $140 support level but maintained a sideways move between the $140-$155 range until Saturday.
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