Solana is currently trading at approximately $184 after registering a noticeable increase in the last few hours, as the price has managed to hold above strong support levels.
Technical Indicators:
RSI is currently trading near the 65 level, which means buying momentum is present but has not yet entered the overbought zone above 70. Any break above the 70 level may indicate an approaching short-term correction.
The MA50 at the $175 area acts as a dynamic support for the price and MA200 at $175 the general trend remains upward as long as the price is above this level.
MACD indicator the fast line is above the slow line with an expanding distance between them indicating clear positivity and the continuation of the upward momentum.
Volume there is a noticeable increase in volumes with each rise, confirming the entrance of new liquidity, which is a supportive element for the upcoming increases 🔥😍.
Bollinger Bands the price is moving near the upper limit, reflecting the strength of the upward trend but also indicating a possibility of volatility or a short correction before completing the path.
Support and Resistance Levels:
The supports at $179 - $180 this is a momentary support and currently represents the bottom of the last movement. Breaking it may push the price for a deeper correction to $165, which is a medium-term support that the price has bounced from multiple times previously. Breaking it means entering a broader downward wave to $150 - $152, a strong historical support representing a solid base for a long-term upward movement and often attracts large buyers (whales) ☠️.
Resistance at $190 is the first current obstacle for the price. Breaking it confirms the continuation of the short-term upward momentum. The $200 - $205 area is both a psychological and technical resistance zone as it represents an important round number, in addition to being a previous peak. Breaking it opens the way for a larger upward wave to $220, which is a higher resistance in the medium term. If surpassed, we may see targets at higher levels such as $240 - $250.
In summary, Solana is still maintaining a strong upward trend, and breaking the $190 level may open the door towards $200 - $205 then higher targets. However, if the breakout fails and the momentum declines, we may see a retest of the $175 - $180 areas as major support.
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