SOL reclaims $200 for the first time since February today.
XMR targets further gains after rebounding from a vital support barrier at $313.
Crypto market cools after recent rallies, but bullish structures remain intact.
Digital coins displayed mixed performances on Tuesday amid bull exhaustion and profit-taking after the latest remarkable rallies.
Ethereum has corrected from yesterday’s peak of $3,854 to $3,640 at press time, while Bitcoin remained range-bound at $118,000.
However, Solana and Monero stole the spotlight among large-cap tokens with notable price movements on their charts.
SOL hit multi-month highs today after soaring past the vital $200, whereas XMR exhibits a bullish outlook after bouncing back from a reliable support zone at $313.
Solana leads today’s rally
SOL emerged as the best-performing token among the top ten cryptocurrencies by value.
The alt has rallied from last week’s low of $158 to an intraday high of $204 today, exploring regions not touched since early February 2025.
With network maturity and demand fueling SOL’s comeback, the digital asset seems set for extended rallies in the near term.
Its total value locked has increased to February levels above $11 billion, while institutions add momentum through Solana strategic reserves and ETF applications.
SOL eyes more uptrends following the latest breakout, with technical indicators setting $300 as the key target.
That would translate to about a 50% surge from its current market price.
Nevertheless, the $190 – $200 range remains vital for SOL’s short-term trajectory.
Intensified profit-booking in this region could delay the projected short-term rally.
Enthusiasts should watch for potential dips to $189 before a decisive closing above $200.
However, prevailing sentiments suggest fewer obstacles in Solana’s upward path.
Monero holds a key support zone
The top privacy token seems prepared for the next leg up despite its weakening momentum.
XMR’s current price of $325 places it well above the crucial support of $313.
This foothold is reinforced by multiple technical indicators, including POC (point of control) and 0.618 FIB retracement.
That makes $313 a vital reversal region. Monero’s bullish structure remains intact if buyers hold this zone.
That could clear the path to the target at $344.
Overcoming this resistance could trigger significant surges if broad market conditions remain favourable.
Crypto market overview
The cryptocurrency space has taken a breather after the latest surges.
The largest assets, Bitcoin and Ethereum, have seen slight dips in the past 24 hours.
However, the market demonstrates stability, indicating a consolidation phase and not a correction one.
Michael van de Poppe highlighted that Bitcoin has collected liquidity with its recent price actions.
However, it remains in a constricted range, awaiting “the actual volatility” that could catalyse sharp gains.
Constant liquidity has been taken on #Bitcoin in recent price action.
Still stuck in a narrow range, which means that the actual volatility is yet to come.
Trend is up, clearly, which means that you’ll need to buy the dip if it comes. pic.twitter.com/zpVGjEEgS1
— Michaël van de Poppe (@CryptoMichNL) July 22, 2025
The analyst also warned about possible violent corrections for altcoins as Ethereum isn’t grabbing much liquidity with its ongoing retracement.
Meanwhile, corrections in cryptocurrencies aren’t uncommon, especially after substantial rallies.
Most assets exhibit bullish patterns, hinting at continued rallies.
Institutional interest in Ethereum remains steady as markets brace for altcoin season.
Thus, market players may brace for substantial breakouts after the prevailing cooldown.
Analysts advise traders and investors to explore dip-buying opportunities if the short-term declines intensify.
