To $200? Critical technical levels to watch now!

Technical Analysis:

Solana ($SOL) is showing strong momentum on the daily timeframe (1D), as it breaks through a downward resistance line that has lasted for over a month.

The price is currently trading around $162 after a strong bounce from support at $140.

Entry Level: $160 – $163

First Target: $178

Second Target: $195

Stop Loss: $152

Indicators:

RSI at 64: in an upward trend

MACD gave a positive crossover

Gradual increase in trading volume

Outlook:

If the $168 level – a pivotal resistance – is broken, the path will be open towards $200 in the coming weeks, especially with the increasing risk appetite in the market and the growing DeFi activity on the Solana network.

Advice for Traders: Keep an eye on news regarding new Solana projects or protocol updates – they could drive the market strongly.