Solana Price Attempts Recovery, Faces Resistance at $215 and $220
Solana Price Analysis
- Solana found support near the $192 zone and is now attempting a recovery.
- SOL price is trading above $202 and the 100-hourly simple moving average.
- A bullish trend line supports the price at $204 on the SOL/USD hourly chart.
- The price faces resistance around $215, $216, and potentially $220.
Recovery Potential
- Breaking above $220 could lead to further gains towards $230 and $242.
- If SOL fails to surpass $216, it might drop back to $204 or even $200.
- A break below $200 could push the price down to the $192 support zone.
Technical Indicators
- Hourly MACD indicates slowing momentum in the bullish zone.
- Hourly RSI is above 50, suggesting some strength.
- Key support levels: $204 and $200.
- Key resistance levels: $216 and $220.