D.Y.O.R (DO YOUR OWN RESEARCH)
The price of Solana (SOL) shows strong bullish momentum, with the potential to break the key level of $190 in the near future. According to reports from BeInCrypto, SOL is currently in a consistent uptrend, driven by increasing market interest and strengthening project fundamentals.
The recent price movement of SOL follows a pattern of higher highs and higher lows, indicating the strength of buyers in controlling the market. On-chain analysts also note an increase in transaction volume and activity on the Solana network, including growth in the DeFi and NFT sectors.
If the price successfully breaks through the resistance at $190, the next short-term target will be around $205 to $220. However, if it fails to break, there is a possibility that SOL will retest support around $165.
Technically, the RSI indicator is still in the neutral zone but tends to rise, indicating room for further growth. The daily moving average also shows bullish signals, reinforcing the potential for a breakout.
Investors and traders are now watching the price reaction around the $190 level to determine whether this will mark the beginning of a new bullish trend or just a temporary bounce.
Analysis:
The potential for SOL to break through $190 is driven not only by technical factors but also by fundamentals. Solana continues to demonstrate strength as one of the most active blockchain ecosystems, with an increase in users and new projects. This creates organic demand for the SOL token.
From a technical standpoint, price consolidation in an upward pattern and the RSI indicator not being overbought provide opportunities for further increases. However, investors should be cautious of the high volatility in the crypto market. Failure to break through $190 could trigger profit-taking and push prices back to previous support.
It is also important to monitor whether trading volume supports this breakout. Without volume support, a breakout could be a false signal. Overall, the short-term outlook for SOL is positive, but confirmation of direction will be clearer after price movements around the $190 level in the coming days.