Solana Price Consolidates Above $210, Eyes Gains Above $218

Solana (SOL) Update

SOL price increased above $202 and $210, currently consolidating above $210.
Trading above the 100-hourly simple moving average.
Bullish trend line support at $212 on the hourly chart.
Potential for gains if the $218 resistance is cleared.

After finding support near $200, Solana's price rose past $205. It surpassed the $212 resistance and reached a high of $218, now consolidating. A minor drop occurred below the 23.6% Fib retracement level of the upward movement from $199 to $217.

On the upside, resistance is noted near $218, with further resistance levels at $220 and $232. A close above $232 could lead to increases toward $244 and potentially $250.

If SOL does not overcome the $218 resistance, it may decline. Initial support is near $212, with major support at $208 and potential declines towards $204 and $200 if broken.

Technical indicators show bullish momentum:

Hourly MACD indicates bullish pace.
RSI is above 50.
Major support levels are $212 and $208.
Major resistance levels are $218 and $220.