Solana Eyes $200 Breakout as It Aims to Disrupt Nasdaq, NYSE

• Solana’s $200 resistance could trigger strong bullish breakout momentum.
• New consensus model prevents order censorship through concurrent node leadership.

Solana ($SOL) is making strategic moves that could challenge centralized exchanges like Nasdaq and NYSE. Solana’s leadership is addressing long-standing concerns about transaction fairness and decentralization. 

Source: Anza

Anatoly Yakovenko, the founder of Solana, and Max Resnick, a researcher at Anza, have proposed a new consensus approach. Their idea involves using multiple concurrent leaders (nodes) to validate transactions. 

This system would prevent a single node from delaying or censoring orders. The goal is to enhance transaction sequencing flexibility and decentralize control. 

According to Yakovenko and Resnick, this change would ensure faster execution without bottlenecks. Dan Robinson, a partner at venture firm Paradigm, supported the idea. 

He called the proposed mechanism an “impressive” development that could elevate blockchain infrastructure. This move positions Solana to directly compete with traditional trading platforms in terms of efficiency.

$SOL Faces Crucial Resistance at $200 Amid Bullish Formation

Solana’s price chart reveals a bullish technical formation known as the cup and handle pattern. Crypto analyst Ali Martinez shared a chart indicating that the $200 level remains a key resistance point. Martinez noted that if Solana breaks above this threshold, it could signal the beginning of a strong rally.

Currently, Solana’s price has fluctuated between $100 and $150. However, technical indicators now suggest growing momentum. Traders commonly view the cup and handle pattern as a bullish signal. 

Analysts predict that surpassing the $200 resistance could push prices toward $1,000 or higher, depending on broader market dynamics.

Bullish Breakout Fuels Short-Term Price Targets

Solana has recently confirmed a breakout from a consolidation phase after bouncing from the $120 support zone. This movement marks a shift in momentum, with price strength accelerating past the $140 resistance area. Analysts interpret this breakout as a sign of growing buyer interest.

SOL/USD Price Chart Source: TradingView

As Solana gains traction, new price targets have emerged. Based on chart projections and resistance zones, these include $220, $240, and $316. The sustained rally suggests that $SOL could reach these short to medium-term levels. Market watchers now expect a further upside if key support is in place.

The rebound from $120 served as a strong foundation for this upward move. With bullish pressure intact, traders are positioning themselves around these new targets. Solana (SOL) is priced at $171.93 at press time, marking a 7.35% increase in the past 24 hours.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.