Solana Price Rally Moves Towards $360 with Key Support Levels
Solana's native token has increased from $146 at the end of April to $180, marking the highest daily close since mid-February. Analyst More Crypto Online (MCO) indicates that the current price movement follows a five-wave pattern and suggests potential for further gains.
Price Projections
MCO outlines two key levels for traders:
- Upside target at $191.25, aligning with Fibonacci extension levels.
- Downside warning at $172, where a break would signal a potential price top.
A break above $191.25 would confirm reduced corrective risk, while a close below $172 may indicate a retracement towards the upper-$160s or mid-$150s.
The analysis emphasizes that Elliott-wave projections are probabilistic. As of the latest update, SOL is trading at $180.
