Market recovery: The Solana ecosystem has demonstrated resilience through its price actions since the beginning of 2023, with Sol surpassing the 200 USD mark. As of the time of writing, Sol is trading at 239.01 USD, reflecting a 0.55% increase over the past 24 hours.

Technical outlook: The Heikin Ashi candle analysis indicates clear trend formations, showing a double bottom pattern around 12 USD that propelled the current upward surge. Price actions show multiple tests of the 260 USD resistance level.

Historical price performance: Solana’s price journey from late 2020 to mid-2021 reached 260 USD, followed by a significant correction period. The current recovery phase shows Solana regaining momentum and strengthening accumulation.