Solana has retraced from its New Year highs but is currently holding on to a key support zone.
Despite the recent downturn, Solana is still aiming for a price target of $325.
The $180-$185 range has acted as a significant resistance level, but Solana managed to break through and climb above $200.
Traders are cautiously optimistic and expect potential bullishness in the market, with upcoming events like Trump's inauguration potentially triggering a market rally.