Solana Price Analysis: The Momentum Continues, Targeting 200 $ and Beyond?
Solana shows positive signals after breaking through the resistance zone of $188. The price is currently consolidating the bullish momentum and may soon continue above the significant barrier of $200.
â Recent Trend Summary:
SOL started a new momentum from the support zone of $175.
The price has broken through the resistance levels of $180 $ and $185, confirming the short-term bullish trend.
Currently, SOL is trading above the $190 $ zone and the 100-hour simple moving average (SMA 100h).
A strong bullish trend is forming with support around the $190 $ zone on the hourly chart of the SOL/USD pair (data source from Kraken).
đ Bullish Scenario
Currently, the price of SOL is facing a resistance zone close to $195 $ â coinciding with the 61.8% Fibonacci retracement level of the drop from $206 $ to $175.
Key Resistance: $198 $ and $200.
If the price stabilizes above $200, the bullish trend will be clearly confirmed. In this case:
Next target: $212
Beyond: $225
đ Bearish Scenario
If SOL cannot break the $200 threshold, a slight adjustment could occur:
Initial support: bullish trend line around $190
Next support: $188
If the price falls below $188, it could drop towards the strong support zone of $184.
In the worst-case scenario, the price could return to $175.
đ§ Technical Indicator
MACD (on the hourly timeframe): Accelerating in the positive zone, supporting the bullish trend.
RSI (Relative Strength Index): Above 50, indicating that the bullish momentum remains in effect.
âïž Summary
Solana maintains its bullish momentum after breaking through several key resistance levels. If the price stays above $190 $ and breaks the $200 barrier, a stronger bullish trend could emerge, pushing the price towards the $212 $ - $225 $ zone in the short term.
