Solana Price Targeting Gains as It Approaches $200 Resistance

Solana's price has begun an upward trend, moving above the $180 zone and is now consolidating above $185. The price is currently trading below $200 and the 100-hourly simple moving average.

  • SOL has shown significant movement above $175 and $180 against the US Dollar.
  • A bullish trend line is forming with support at $188 on the hourly SOL/USD chart from Kraken.
  • Potential for further gains if the price surpasses the $200 resistance zone.

Current Price Analysis

  • Solana found support near $155 and surpassed $172, entering a positive zone.
  • The price exceeded the $180 resistance and climbed above the 50% Fib retracement from the $225 high to $155 low.
  • Resistance is seen at $198 and the 61.8% Fib retracement level, with major resistance at $200.
  • Breaking past $205 could lead to further increases toward $212 and potentially $220.

Solana Price

Potential Decline

  • If SOL doesn't exceed $200, it might decline with initial support at $190 and major support at $182.
  • Breaking below $182 could push the price to $175, and further below $175 may target the $160 support.

Technical Indicators

  • The Hourly MACD is gaining momentum in the bullish zone.
  • The RSI for SOL/USD is above 50, indicating potential strength.
  • Major Support Levels: $188 and $182.
  • Major Resistance Levels: $198 and $200.