Market Analysis of Solana (SOL/USDT):
It is currently showing strong upward momentum trading around $204.17 after gaining 6.18% in the last 24 hours. The price has successfully broken above multiple resistance levels and is now consolidating near the 24-hour high of $205.08, suggesting strong bullish sentiment. The recent surge has been accompanied by rising volume, indicating increased participation from buyers and strong market confidence.
The moving averages confirm the bullish trend, with the 7-period moving average (MA7) at $201.13 crossing above the 25-period (MA25) at $197.67 and the 99-period (MA99) at $192.94. This alignment reflects strong short-term momentum and suggests that buyers remain in control. The immediate resistance is located at $205.08, the recent high, and a breakout above this level could push the price toward the next potential resistance zone around $206.50–$210.00.
On the downside, immediate support is seen around $201, where the MA7 line acts as dynamic support. Below that, additional support levels lie near $197 and $193, aligning with the MA25 and MA99 zones, respectively. A break below $193 could trigger a deeper correction toward $187–$181, which represents a previous accumulation range before the breakout.
Overall, Solana remains in a clear short-term uptrend, supported by strong volume and bullish moving average crossovers. As long as the price holds above $200, the momentum remains positive with a possible move toward $210 in the near term. However, failure to maintain support above $197 could lead to a short-term pullback.
