⚡ Solana Holds Strong Could a Breakout Rally Be Next?
Solana has bounced back above $185 and is now holding near $190, sparking hopes for a push past $200.
Market Overview
SOL climbed above $185 and $192 against the US Dollar
Currently trading over $190 and above the 100-hour SMA
Recently dipped below a bullish trendline at $202 on the hourly chart
A break over $198 could open the way to $200 and beyond
Price Action
After finding solid support at $185, Solana moved into a short-term bullish zone above $192, similar to Bitcoin and Ethereum. The price cleared the $200 mark and even touched $202 before pulling back. It slipped under the 23.6% Fib retracement from the $174 swing low to the $210 high.
Bulls defended $188, which aligns with the 61.8% Fib retracement of the same rally. SOL is now trading above $190 and the 100-hour SMA. Immediate resistance sits at $198, followed by $200, with a major hurdle at $202. A decisive close above $202 could spark steady gains toward $210, and potentially $220.
Bearish Scenario
If SOL fails to clear $200, it could drop again. Initial support is near $192, followed by $188. A break under $188 could send the price toward $180, and a close below $180 might open the door for $175.
Technical Signals
MACD: Losing momentum but still in positive territory
RSI: Below 50, showing weakening strength
Key Supports: $192, $188
Key Resistances: $200, $210
