- Solana is trading above $190 with strong bullish signals and could break past the $200 resistance to target $225.
- However, failure to clear $200 may lead to a pullback toward the $184 or $175 support zones.
Solana (SOL) is showing renewed strength after reclaiming key support levels, igniting optimism for a potential rally above $200. The price action suggests a bullish setup as SOL consolidates gains, with traders watching closely for the next big move.
Bullish Trend Line Signals Strength
After finding support near $175, Solana began a fresh upward move, surging past the $180 and $185 resistance zones. The price is now comfortably trading above $190 and the 100-hourly simple moving average. A bullish trend line has also formed, offering solid support at $190 on the hourly chart.
The recent push allowed SOL to break above the 50% Fibonacci retracement level of the drop from $206 to $175. With this recovery, Solana appears well-positioned to retest the $195 and $198 resistance levels.
Key Resistance Zones Ahead
The $200 mark remains the key psychological and technical resistance. A decisive close above this level could pave the way for an extended rally. If buyers manage to flip $200 into support, the next targets to watch are $212 and potentially $225.
The bullish case is supported by growing market confidence and similarities with movements in other major cryptocurrencies like Bitcoin and Ethereum. A breakout above $200 would not only confirm strength but also signal the continuation of Solana’s uptrend in the near term.
What If Solana Faces Rejection?
Despite the bullish signals, failure to break above $200 could open the door to short-term weakness. Immediate support lies at $190, aligned with the rising trend line. Below that, $188 becomes the first critical level to defend.
A drop beneath $188 might lead to further losses toward $184 and even $175, the previous low where the latest rally began. However, these downside levels may be limited if buyers continue to protect the trend structure.
Solana’s price movement reflects a market in transition, with strong support and growing bullish pressure. While resistance near $200 is key, the broader technical picture remains positive. If the bulls hold their ground and break through, Solana could be on track to test the $225 zone in the coming sessions.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.