Solana (SOL) Price Surges Above $212, Eyes $220 Resistance

Solana (SOL) Price Update

SOL price is consolidating above $212 after increasing past the $200 level.
Trading is currently above the 100-hourly simple moving average.
A bullish trend line is forming with support at $212 on the hourly chart.
The price may extend gains if it surpasses the $220 resistance.

Solana's recent increase began after finding support near $192. The price surpassed the $205 and $212 levels, reaching a high of $217. It remains above the 23.6% Fib retracement level from the $185 low to the $217 high.

Current resistance levels are:

$218
$220
$225

A close above $225 could lead to further increases toward $232 and potentially $250.

If SOL fails to break above $220, it may decline, with initial support around $212 and major support near $210. A drop below $210 could target the $202 support zone and lead to further declines toward $195.

Technical Indicators

Hourly MACD indicates bullish momentum.
RSI is above the 50 level.