Solana Price Surges Above $200 Amid Strong Market Support

Solana Price Update

SOL price increased above $185 and $188 against the US Dollar.
Current trading above $195, with a 100-hourly simple moving average supporting the price.
A bullish trend line is forming with support at $196 on the hourly chart.
The price faces resistance near $205; clearing this could lead to further gains.

Price Movements

Solana formed a base above $175, climbing over significant resistance levels. The price reached a high of $206 and is consolidating near the 23.6% Fib retracement level.

Key resistance levels are set at $212 and $220. A close above $220 may trigger further increases towards $232 and potentially $245.

Potential Decline

If SOL does not break through $205, it may decline. Key support levels are at $196 and $190. A breach below $190 might push the price down to $185 or lower towards $172.

Technical Indicators

Hourly MACD shows decreasing momentum in the bullish zone.
RSI is above 50, indicating positive market sentiment.