Subscribe to our Telegram channel!
The Solana cryptocurrency SOL $102.73 Solana -1.61% Market capitalization $60.13 billion VOL. 24 hours $0.19 billion demonstrates resilience and maintains a positive trend after rising above $ 215. According to NewsBTC, the price is currently consolidating above $ 212 and the 100-hour simple moving average, and is also holding within the rising trend line with support at $ 216.
Analysts note that SOL began to rise after finding support around $ 202. The cryptocurrency was able to overcome the levels of $ 208, $ 215, and even test $ 220. Currently, the price is holding above the 23.6% Fibonacci retracement level from the $ 199-$ 220 movement.
The nearest resistance is at $ 220. If this barrier is overcome, the next key areas will be $ 228 and $ 232. A successful close above $ 232 could open the way for further growth with targets of $ 244 and even $ 250.
In the event of a correction, the first support is expected around $ 216. Next, $ 210 will be an important level (50% Fibonacci retracement from $ 199 to $ 220). A breakdown below $ 210 could lead to a decline to $ 202 and then to $ 195.
Technical indicators confirm the advantage of the bulls: The MACD for the SOL/USD pair is gaining momentum in the positive zone, and the RSI remains above 50. This indicates that growth is likely to continue if the nearest resistance is overcome.