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Solana (SOL) Shows Strength – Can The Bulls Maintain Control For Another Leg Up?
Solana (SOL) has recently experienced a significant price increase, surpassing the $188 resistance level. The price is currently consolidating above $200 and the 100-hourly simple moving average. A bullish trend line is forming on the hourly chart, providing support at $199. If SOL can break the $208 resistance, further gains are anticipated. The cryptocurrency initially climbed above $180 after a stabilization above the $172 zone. The price surpassed the 61.8% Fib retracement level and is currently trading near the $202 mark. Resistance levels are located near $208, $218, and possibly $225, which is a crucial level. Failure to break $208 might cause a decline towards support levels at $199, $195, and possibly $190. The hourly MACD indicates bullish momentum, while the RSI is above 50. Key support levels are $199 and $190, with major resistance at $208 and $218.
