Solana Price Rises Above $245, Faces Resistance at $248

Solana is experiencing a rise, surpassing the $245 mark, and is currently adjusting some gains. Key points include:

SOL price moved above $242 and $245 against the US Dollar.
The price is trading above $240 and the 100-hour simple moving average.
A break occurred above a key bearish trend line with resistance at $240 on the SOL/USD hourly chart.
If the price falls below $240, further losses may occur.

After settling above $232, Solana outperformed Bitcoin and Ethereum, moving into a positive zone by climbing over $240. Resistance was broken at $245, reaching a high of $253 before correcting.

Solana Price

Solana remains above $242 and the 100-hour SMA, facing resistance at $248, with major resistance levels at $254 and $255. Surpassing these could lead to increases toward $268 or $272.

If SOL cannot overcome $248, it might decline. Support lies near $242 and $240, with significant support at $232. A drop below $232 may push the price towards $220.

Technical Indicators:

Hourly MACD: Losing momentum in the bullish zone.
Hourly RSI: Below 50 level.
Major Support Levels: $242, $240
Major Resistance Levels: $248, $255