Solana (SOL) has experienced a 23% pullback after reaching new all-time highs, but it has managed to hold above a critical support level. This consolidation phase suggests that SOL is preparing for another potential breakout. Analyst Jelle predicts that SOL will reach new all-time highs before Christmas, setting the stage for an exciting end to the year. However, if SOL fails to break its all-time high, there is a possibility of a prolonged consolidation phase. Bulls must regain and hold levels above the all-time high to meet Jelle's price target of $300. SOL is currently trading at $232 and the next key resistance is at $246. Breaking above this level could lead to a bullish breakout and a challenge to surpass the all-time high. However, if SOL struggles to break above $246, it could face a broader correction.



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